3,481 Shares in Simon Property Group, Inc. $SPG Purchased by CacheTech Inc.

CacheTech Inc. bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,481 shares of the real estate investment trust’s stock, valued at approximately $560,000.

Several other hedge funds also recently modified their holdings of the business. Federated Hermes Inc. increased its stake in Simon Property Group by 68.8% during the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock worth $20,081,000 after purchasing an additional 50,932 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $1,196,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Simon Property Group by 740.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock valued at $28,546,000 after buying an additional 156,448 shares during the period. Capital Advisors Inc. OK increased its position in shares of Simon Property Group by 0.5% during the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Simon Property Group by 5.7% during the second quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after acquiring an additional 1,607 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.1%

Shares of Simon Property Group stock opened at $181.98 on Monday. The stock has a market cap of $59.41 billion, a P/E ratio of 26.49, a P/E/G ratio of 8.87 and a beta of 1.37. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The business’s 50 day moving average is $180.56 and its 200-day moving average is $173.66.

Simon Property Group (NYSE:SPG) last released its 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 38.18% and a return on equity of 79.30%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $3.05 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend 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 (DPR) is presently 128.09%.

Insider Buying and Selling

In other news, Director Daniel C. Smith bought 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director owned 32,333 shares in the company, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 2,121 shares of company stock worth $394,400 in the last 90 days. 8.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research analyst reports. Evercore ISI upped their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. boosted their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Barclays upped their price objective on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Morgan Stanley increased their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.93.

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.