Simon Property Group, Inc. $SPG Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Simon Property Group by 2.4%, owning 110,531 shares worth $17.77 million as of the latest SEC filing.
• Simon Property Group has recently reported earnings of $3.05 per share for the last quarter, exceeding analysts' expectations and showing a 13.9% increase in revenue over the previous year.
• The company announced a quarterly dividend increase to $2.15, enhancing the annual yield to 4.7% while maintaining a high payout ratio of 132.92%.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,531 shares of the real estate investment trust's stock after purchasing an additional 2,624 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Simon Property Group were worth $17,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Great Lakes Advisors LLC raised its stake in shares of Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after acquiring an additional 68 shares during the period. Sumitomo Life Insurance Co. raised its stake in shares of Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after acquiring an additional 70 shares during the period. Aspiriant LLC raised its stake in shares of Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after acquiring an additional 74 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of Simon Property Group by 2.2% in the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust's stock valued at $544,000 after acquiring an additional 75 shares during the period. Finally, Moody National Bank Trust Division raised its stake in shares of Simon Property Group by 5.9% in the first quarter. Moody National Bank Trust Division now owns 1,394 shares of the real estate investment trust's stock valued at $232,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Morgan Stanley raised their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. raised their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Scotiabank raised their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $186.46.

Simon Property Group Stock Up 0.4%

NYSE SPG traded up $0.70 during trading on Friday, reaching $180.79. 7,083,286 shares of the company's stock traded hands, compared to its average volume of 1,717,126. The company's 50 day simple moving average is $172.57 and its two-hundred day simple moving average is $164.32. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The firm has a market cap of $59.03 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 10.91 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data 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. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $2.90 EPS. The company's quarterly 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. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS 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 given a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is presently 132.92%.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock bought 396 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director directly owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Smith bought 378 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $60,211.62. Following the completion of the purchase, the director directly owned 31,998 shares in the company, valued at $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by corporate insiders.

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.