Simon Property Group, Inc. $SPG Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,230,154 shares of the real estate investment trust’s stock after purchasing an additional 86,328 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.38% of Simon Property Group worth $230,863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group in the second quarter valued at about $25,000. VSM Wealth Advisory LLC acquired a new position in Simon Property Group during the 2nd quarter worth approximately $30,000. Silicon Valley Capital Partners purchased a new position in Simon Property Group in the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc grew its position in Simon Property Group by 205.6% in the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 146 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Simon Property Group in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. Barclays reissued a “positive” rating and set a $188.00 target price on shares of Simon Property Group in a research report on Tuesday, January 13th. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Truist Financial boosted their price objective on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a report on Wednesday, December 17th. Citigroup raised their target price on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, UBS Group lifted their target price on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $193.85.

Simon Property Group Price Performance

Shares of SPG opened at $184.94 on Tuesday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. 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 firm has a market cap of $60.38 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 8.81 and a beta of 1.37. The stock has a 50 day moving average of $184.15 and a 200-day moving average of $178.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is 128.09%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the completion of the purchase, the director directly owned 53,639 shares in the company, valued at $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel C. Smith bought 347 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $64,542.00. Following the acquisition, the director directly owned 32,680 shares of the company’s stock, valued at $6,078,480. The trade was a 1.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 2,192 shares of company stock worth $407,712. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Company 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.