Simon Property Group, Inc. $SPG Stock Holdings Increased by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management LLC increased its stake in Simon Property Group by 1.6%, now owning approximately 814,907 shares worth around $131 million, making it the 23rd largest position in their portfolio.
• Simon Property Group recently announced a quarterly dividend of $2.15, up from the previous $2.10, representing an annualized yield of 4.8%.
• Several analysts have adjusted their price targets for Simon Property Group, with a consensus rating of "Hold" and an average price target of $187.31.

Hamlin Capital Management LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 814,907 shares of the real estate investment trust's stock after purchasing an additional 13,179 shares during the quarter. Simon Property Group accounts for 3.0% of Hamlin Capital Management LLC's portfolio, making the stock its 23rd largest position. Hamlin Capital Management LLC owned about 0.25% of Simon Property Group worth $131,004,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC bought a new position in Simon Property Group during the fourth quarter valued at approximately $295,000. Wealth Enhancement Advisory Services LLC raised its position in Simon Property Group by 9.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,854 shares of the real estate investment trust's stock valued at $4,294,000 after acquiring an additional 2,194 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Simon Property Group by 1.9% during the first quarter. Janney Montgomery Scott LLC now owns 70,286 shares of the real estate investment trust's stock valued at $11,673,000 after acquiring an additional 1,296 shares in the last quarter. Global X Japan Co. Ltd. raised its position in Simon Property Group by 24.9% during the first quarter. Global X Japan Co. Ltd. now owns 818 shares of the real estate investment trust's stock valued at $136,000 after acquiring an additional 163 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Simon Property Group by 28.3% during the first quarter. Blue Trust Inc. now owns 1,643 shares of the real estate investment trust's stock valued at $273,000 after acquiring an additional 362 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Glyn Aeppel purchased 208 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the transaction, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,163 shares of company stock worth $401,605 in the last three months. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Simon Property Group stock opened at $178.23 on Friday. The stock has a 50-day simple moving average of $179.20 and a 200 day simple moving average of $166.34. 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 12-month low of $136.34 and a 12-month high of $190.13. The stock has a market capitalization of $58.19 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 12.96 and a beta of 1.50.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is presently 132.92%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus downgraded Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a report on Tuesday, September 2nd. Barclays increased their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Monday, October 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Simon Property Group in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Finally, Argus reiterated a "buy" rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $187.31.

Simon Property Group 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.

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