Vanderbilt University Has $4.70 Million Stake in Simon Property Group, Inc. $SPG

Key Points

• Vanderbilt University increased its stake in Simon Property Group by 12.1% during the 2nd quarter, bringing its total holdings to approximately $4.70 million, making it the university's 22nd largest investment.
• Simon Property Group's most recent dividend was a quarterly payment of $2.15 per share, representing a positive increase from the previous dividend and indicating an annualized yield of 4.6%.
• Analysts have varying views on Simon Property Group's stock, with price targets ranging from $169.00 to $225.00, and an overall average price target of $186.46, as well as an average rating of "Hold."

Vanderbilt University raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,241 shares of the real estate investment trust's stock after purchasing an additional 3,157 shares during the period. Simon Property Group accounts for approximately 0.9% of Vanderbilt University's investment portfolio, making the stock its 22nd biggest position. Vanderbilt University's holdings in Simon Property Group were worth $4,701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SPG. Nuveen LLC acquired a new position in shares of Simon Property Group in the first quarter valued at $724,937,000. Principal Financial Group Inc. increased its holdings 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 valued at $532,529,000 after purchasing an additional 1,830,264 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Simon Property Group in the first quarter valued at $197,377,000. Goldman Sachs Group Inc. increased its holdings in shares of Simon Property Group by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust's stock valued at $494,267,000 after purchasing an additional 604,016 shares during the last quarter. Finally, Resolution Capital Ltd increased its holdings in shares of Simon Property Group by 45.8% in the first quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust's stock valued at $298,873,000 after purchasing an additional 565,084 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPG has been the topic of several research reports. Barclays initiated coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective on the stock. Piper Sandler upped their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price target on the stock. Mizuho decreased their price target on shares of 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. Finally, Truist Financial upped their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $186.46.

Simon Property Group Trading Down 0.4%

SPG stock opened at $185.05 on Friday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company's 50-day simple moving average is $176.41 and its 200 day simple moving average is $165.35. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $60.42 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 11.25 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the business 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. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given 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 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Insider Buying and Selling at Simon Property Group

In other news, Director Gary M. Rodkin acquired 219 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company's stock, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glyn Aeppel bought 208 shares of the company's stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $38,677.60. Following the acquisition, the director directly owned 19,265 shares of the company's stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,163 shares of company stock valued at $401,605 over the last three months. 8.66% of the stock is owned by 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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.