Simon Property Group, Inc. $SPG Position Increased by Kestra Investment Management LLC

Kestra Investment Management LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 2,532.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,397 shares of the real estate investment trust’s stock after buying an additional 5,192 shares during the quarter. Kestra Investment Management LLC’s holdings in Simon Property Group were worth $868,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SPG. Federated Hermes Inc. lifted its stake in 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 acquiring an additional 50,932 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth $1,196,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Simon Property Group by 740.8% during 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 purchasing an additional 156,448 shares in the last quarter. Capital Advisors Inc. OK lifted its stake in shares of Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Simon Property Group by 5.7% in the second quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after purchasing an additional 1,607 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SPG shares. Piper Sandler raised their target price on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Barclays raised their price objective on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Citigroup boosted their target price on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Morgan Stanley increased their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average target price of $189.93.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $181.98 on Monday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market cap of $59.41 billion, a P/E ratio of 26.49, a P/E/G ratio of 8.87 and a beta of 1.37. The business’s 50 day moving average is $180.56 and its two-hundred day moving average is $173.66. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59.

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. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $3.05 earnings per share. Simon Property Group’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 analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is presently 128.09%.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel acquired 208 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 2,121 shares of company stock valued at $394,400 in the last three months. Company insiders own 8.60% of the company’s stock.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.