Simon Property Group, Inc. $SPG Shares Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 10.9% in the third quarter, Holdings Channel.com reports. The fund owned 197,455 shares of the real estate investment trust’s stock after acquiring an additional 19,482 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $36,785,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Simon Property Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock worth $7,369,128,000 after buying an additional 149,314 shares during the last quarter. State Street Corp increased its stake in Simon Property Group by 1.1% in the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after buying an additional 228,819 shares during the period. Geode Capital Management LLC raised its holdings in shares of Simon Property Group by 1.3% during the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after acquiring an additional 127,636 shares in the last quarter. Norges Bank acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at about $1,051,262,000. Finally, JPMorgan Chase & Co. grew its position in Simon Property Group by 34.2% in 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 acquiring an additional 1,660,188 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith bought 347 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, for a total transaction of $64,542.00. Following the completion of the transaction, the director directly owned 32,680 shares in the company, valued at approximately $6,078,480. The trade was a 1.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Reuben S. Leibowitz bought 480 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the transaction, the director directly owned 53,639 shares of the company’s stock, valued at approximately $9,976,854. This represents a 0.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 2,192 shares of company stock valued at $407,712. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Tuesday. Scotiabank increased their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Piper Sandler lifted 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 note on Monday, November 10th. Finally, Stifel Nicolaus upped 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 report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $194.64.

Simon Property Group Trading Down 0.1%

NYSE SPG opened at $184.83 on Friday. The company has a market capitalization of $60.34 billion, a PE ratio of 26.90, a P/E/G ratio of 6.87 and a beta of 1.37. The stock has a 50-day simple moving average of $184.23 and a 200 day simple moving average of $178.56. The company has a current ratio of 1.44, a quick 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.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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. The business 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%.Simon Property Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Research 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 announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a dividend of $2.20 per share. The ex-dividend date was Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is presently 128.09%.

About Simon Property Group

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.