Cheviot Value Management LLC Acquires New Holdings in Simon Property Group, Inc. $SPG

Cheviot Value Management LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,065 shares of the real estate investment trust’s stock, valued at approximately $542,000.

Several other institutional investors and hedge funds also recently modified their holdings of SPG. Federated Hermes Inc. raised its position in shares of Simon Property Group by 68.8% in the second quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after buying an additional 50,932 shares during the last quarter. Highland Capital Management LLC acquired a new stake in Simon Property Group during the second quarter worth approximately $1,196,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Simon Property Group by 8.4% in the 3rd 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 acquiring an additional 9,267 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Simon Property Group by 740.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock valued at $28,546,000 after acquiring an additional 156,448 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Simon Property Group by 4.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 620,397 shares of the real estate investment trust’s stock worth $116,430,000 after purchasing an additional 26,343 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Truist Financial lifted their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, December 17th. Barclays reissued a “positive” rating and set a $188.00 price objective on shares of Simon Property Group in a research note on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft raised Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Tuesday. Finally, Stifel Nicolaus lifted their target price on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $194.64.

Simon Property Group Price Performance

SPG stock opened at $184.83 on Friday. The firm has a market cap of $60.34 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The stock has a 50-day simple moving average of $184.23 and a 200-day simple moving average of $178.66.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion during 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%.Simon Property Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a dividend of $2.20 per share. This is a positive change 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 presently 128.09%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired 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 owned 53,639 shares in the company, valued at $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 Glyn Aeppel purchased 216 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, with a total value of $40,176.00. Following the acquisition, the director directly owned 19,481 shares of the company’s stock, valued at $3,623,466. The trade was a 1.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,192 shares of company stock worth $407,712 over the last three months. Insiders own 8.66% 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.