CORDA Investment Management LLC. Sells 2,722 Shares of Simon Property Group, Inc. $SPG

CORDA Investment Management LLC. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,794 shares of the real estate investment trust’s stock after selling 2,722 shares during the quarter. Simon Property Group comprises about 2.8% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 13th biggest position. CORDA Investment Management LLC. owned 0.06% of Simon Property Group worth $39,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Simon Property Group during the 3rd quarter valued at approximately $246,000. William Allan Corp boosted its stake in Simon Property Group by 2.8% during the third quarter. William Allan Corp now owns 2,744 shares of the real estate investment trust’s stock worth $515,000 after buying an additional 76 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Simon Property Group by 8.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,798 shares of the real estate investment trust’s stock worth $22,482,000 after buying an additional 9,267 shares during the period. Oregon Public Employees Retirement Fund increased its position in Simon Property Group by 40.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 37,355 shares of the real estate investment trust’s stock valued at $7,010,000 after acquiring an additional 10,820 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Simon Property Group by 0.3% in the third quarter. State of Alaska Department of Revenue now owns 193,709 shares of the real estate investment trust’s stock valued at $36,352,000 after acquiring an additional 605 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho set a $192.00 price target on shares of Simon Property Group in a research note on Friday. UBS Group upped their target price on Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays increased their price target on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Citigroup boosted their price objective on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Stifel Nicolaus upped their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $191.54.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $184.60 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock’s fifty day moving average price is $183.78 and its 200-day moving average price is $177.16. The firm has a market cap of $60.27 billion, a P/E ratio of 26.87, a P/E/G ratio of 8.81 and a beta of 1.37. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business earned $3.05 EPS. The firm’s quarterly 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. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 480 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, with a total value of $89,280.00. Following the transaction, the director owned 53,639 shares in the company, valued at approximately $9,976,854. The trade was a 0.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin acquired 226 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the transaction, the director owned 19,455 shares of the company’s stock, valued at $3,618,630. This represents a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 2,192 shares of company stock worth $407,712. Insiders own 8.66% of the company’s stock.

Simon Property Group Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.