Simon Property Group, Inc. $SPG Shares Purchased by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its holdings in Simon Property Group by 15.3% during the first quarter, owning approximately 1.83 million shares valued at around $303.4 million.
• Insider trading activity shows that directors Daniel C. Smith and Gary M. Rodkin purchased shares, contributing to a total of 2,428 shares acquired by insiders in the last quarter, worth about $387,271.
• Simon Property Group recently announced a quarterly dividend of $2.15 per share, an increase from the previous dividend, representing an annualized dividend yield of 4.9%.

Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,827,015 shares of the real estate investment trust's stock after purchasing an additional 242,899 shares during the period. Simon Property Group makes up approximately 4.6% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 3rd biggest position. Cbre Investment Management Listed Real Assets LLC owned about 0.56% of Simon Property Group worth $303,431,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SPG. Nuveen LLC acquired a new stake in shares of Simon Property Group in the first quarter worth $724,937,000. Principal Financial Group Inc. increased its stake in shares of Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after acquiring an additional 1,830,264 shares during the last quarter. Northern Trust Corp boosted its position in Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. Resolution Capital Ltd bought a new position in Simon Property Group during the fourth quarter valued at about $212,592,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Simon Property Group during the 1st quarter worth about $197,377,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPG has been the topic of several analyst reports. Barclays assumed coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Stifel Nicolaus set a $179.00 price target on shares of Simon Property Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Piper Sandler lowered their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $184.00.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 396 shares of the company's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the purchase, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. The trade was a 0.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director directly owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 2,428 shares of company stock worth $387,271 over the last quarter. Insiders own 8.60% of the company's stock.

Simon Property Group Stock Up 0.4%

Shares of NYSE SPG traded up $0.68 during trading hours on Tuesday, hitting $177.09. The company had a trading volume of 2,020,109 shares, compared to its average volume of 1,507,866. The stock has a market capitalization of $57.82 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 10.66 and a beta of 1.48. The firm's 50 day moving average is $165.18 and its 200-day moving average is $164.54. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $2.90 earnings per share. Simon Property Group's revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $2.15 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's payout ratio is currently 129.83%.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.