MassMutual Private Wealth & Trust FSB Has $231,000 Position in Simon Property Group, Inc. $SPG

MassMutual Private Wealth & Trust FSB grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,437 shares of the real estate investment trust’s stock after purchasing an additional 81 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Simon Property Group were worth $231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Simon Property Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after acquiring an additional 267,503 shares during the period. Northern Trust Corp increased its position in shares of Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after purchasing an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. grew its position in Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after acquiring an additional 141,657 shares during the last quarter. Nuveen LLC bought a new position in Simon Property Group in the 1st quarter valued at $724,937,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after buying an additional 23,873 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Larry C. Glasscock purchased 396 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $63,078.84. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel acquired 234 shares of the stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the transaction, the director owned 19,057 shares of the company’s stock, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock worth $387,271 over the last 90 days. Insiders own 8.66% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Truist Financial increased their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Mizuho lowered their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Morgan Stanley increased their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Finally, Barclays started coverage on 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. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Simon Property Group has an average rating of “Hold” and an average target price of $186.46.

Simon Property Group Price Performance

SPG opened at $180.40 on Friday. The company’s 50 day simple moving average is $172.19 and its 200-day simple moving average is $164.33. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock has a market capitalization of $58.90 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 10.99 and a beta of 1.50. 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 (NYSE:SPG) last posted its earnings results 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s payout ratio is currently 132.92%.

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.