Summit Global Investments Has $7.82 Million Holdings in Simon Property Group, Inc. $SPG

Summit Global Investments boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 263.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,662 shares of the real estate investment trust’s stock after buying an additional 30,196 shares during the period. Summit Global Investments’ holdings in Simon Property Group were worth $7,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPG. Brighton Jones LLC acquired a new position in Simon Property Group during the fourth quarter valued at approximately $295,000. Janney Montgomery Scott LLC boosted its stake in Simon Property Group by 87.5% in the second quarter. Janney Montgomery Scott LLC now owns 131,791 shares of the real estate investment trust’s stock valued at $21,187,000 after buying an additional 61,505 shares in the last quarter. Truist Financial Corp grew its position in Simon Property Group by 3.0% in the second quarter. Truist Financial Corp now owns 39,433 shares of the real estate investment trust’s stock valued at $6,339,000 after acquiring an additional 1,157 shares during the last quarter. Trust Co. of Vermont raised its stake in Simon Property Group by 15.8% during the second quarter. Trust Co. of Vermont now owns 4,728 shares of the real estate investment trust’s stock worth $760,000 after acquiring an additional 644 shares in the last quarter. Finally, BSW Wealth Partners boosted its stake in shares of Simon Property Group by 10.3% in the 2nd quarter. BSW Wealth Partners now owns 1,575 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 147 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 226 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, with a total value of $42,036.00. Following the completion of the purchase, the director directly owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This trade represents a 1.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Glyn Aeppel bought 216 shares of the stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, with a total value of $40,176.00. Following the completion of the acquisition, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. This represents a 1.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,192 shares of company stock worth $407,712 over the last quarter. 8.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI increased their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Barclays reaffirmed a “positive” rating and issued a $188.00 target price on shares of Simon Property Group in a report on Tuesday, January 13th. Mizuho set a $192.00 price target on Simon Property Group in a report on Friday, January 9th. Scotiabank raised 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 report on Wednesday, January 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Six research 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, the stock has an average rating of “Hold” and an average target price of $194.64.

Simon Property Group Stock Up 3.2%

Shares of NYSE SPG opened at $189.65 on Friday. The company’s 50 day moving average price is $184.63 and its 200-day moving average price is $179.20. 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 52-week low of $136.34 and a 52-week high of $190.13. The company has a market capitalization of $61.92 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 6.82 and a beta of 1.37.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $2.20 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.6%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

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.