Acadian Asset Management LLC Sells 297,825 Shares of Simon Property Group, Inc. $SPG

Acadian Asset Management LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 56.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 232,805 shares of the real estate investment trust’s stock after selling 297,825 shares during the quarter. Acadian Asset Management LLC owned 0.07% of Simon Property Group worth $37,420,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in Simon Property Group in the 2nd quarter valued at about $25,000. Richardson Financial Services Inc. increased its holdings in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the period. WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $47,000. TCTC Holdings LLC boosted its stake in shares of Simon Property Group by 93.5% in the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 186 shares during the period. Finally, Graybill Wealth Management LTD. bought a new stake in shares of Simon Property Group in the first quarter valued at approximately $72,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Evercore ISI boosted their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Piper Sandler increased their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.69.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stefan M. Selig purchased 195 shares of the business’s 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 $36,260.25. Following the acquisition, the director owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This trade represents a 0.61% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 2,163 shares of company stock worth $401,605. Company insiders own 8.66% of the company’s stock.

Simon Property Group Trading Up 1.6%

Shares of SPG stock opened at $183.62 on Monday. The firm has a market capitalization of $59.95 billion, a P/E ratio of 28.38, a P/E/G ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. 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’s fifty day simple moving average is $180.44 and its 200 day simple moving average is $169.74.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is 128.09%.

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.