American Century Companies Inc. Cuts Stock Position in Simon Property Group, Inc. $SPG

American Century Companies Inc. decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,602 shares of the real estate investment trust’s stock after selling 20,631 shares during the period. American Century Companies Inc. owned about 0.16% of Simon Property Group worth $82,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Simon Property Group during the first quarter worth $724,937,000. JPMorgan Chase & Co. increased its stake in shares of Simon Property Group by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Simon Property Group by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after purchasing an additional 604,016 shares during the last quarter. Resolution Capital Ltd lifted its stake in Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after buying an additional 565,084 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Simon Property Group in the 2nd quarter worth about $68,013,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research analyst reports. Evercore ISI increased their target price on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Stifel Nicolaus increased their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Truist Financial lifted their target price 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. Finally, Piper Sandler increased their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $190.31.

Simon Property Group Stock Up 1.4%

Shares of SPG opened at $185.15 on Wednesday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week 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 has a fifty day simple moving average of $180.76 and a two-hundred day simple moving average of $171.69. The company has a market capitalization of $60.45 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $2.20 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 128.09%.

Insider Buying and Selling at Simon Property Group

In other news, Director Daniel C. Smith purchased 335 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the transaction, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Rodkin acquired 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the acquisition, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 2,121 shares of company stock worth $394,400. Insiders own 8.66% of the company’s stock.

Simon Property Group Profile

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.