Simon Property Group, Inc. $SPG Stock Holdings Increased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its holdings in Simon Property Group by 5.7%, owning a total of 29,781 shares worth approximately $4.73 million as of the latest SEC filing.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, reflecting a slight increase from the previous $2.10, contributing to an annualized yield of 4.8%.
• Analysts have raised their price targets for Simon Property Group, with Barclays setting a new target of $180.00 and Argus reissuing a buy rating with a target of $185.00.

Nordea Investment Management AB raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,781 shares of the real estate investment trust's stock after acquiring an additional 1,607 shares during the period. Nordea Investment Management AB's holdings in Simon Property Group were worth $4,731,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new stake in Simon Property Group during the 2nd quarter valued at $25,000. Park Square Financial Group LLC raised its stake in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after buying an additional 81 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after buying an additional 111 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth $47,000. Institutional investors own 93.01% of the company's stock.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of the stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares of the company's stock, valued at $8,095,519.20. This represents a 0.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reuben S. Leibowitz purchased 464 shares of the stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the acquisition, the director directly owned 58,659 shares of the company's stock, valued at $10,907,641.05. This represents a 0.80% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock valued at $401,605 in the last ninety days. Company insiders own 8.60% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $178.79 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market capitalization of $58.37 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 13.09 and a beta of 1.50. The stock's fifty day simple moving average is $179.65 and its 200 day simple moving average is $166.71. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 9th. Simon Property Group's dividend payout ratio is presently 132.92%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays boosted their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Monday, October 6th. Argus reissued a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of "Hold" and a consensus target price of $187.31.

About Simon Property Group

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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