Federated Hermes Inc. Has $20.08 Million Stock Holdings in Simon Property Group, Inc. $SPG

Federated Hermes Inc. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 68.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,912 shares of the real estate investment trust’s stock after purchasing an additional 50,932 shares during the quarter. Federated Hermes Inc.’s holdings in Simon Property Group were worth $20,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jump Financial LLC grew its position in Simon Property Group by 80.1% in the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after acquiring an additional 7,506 shares during the period. Cary Street Partners Investment Advisory LLC bought a new position in shares of Simon Property Group during the second quarter valued at $75,000. Long Pond Capital LP acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at $33,518,000. SageView Advisory Group LLC grew its holdings in shares of Simon Property Group by 3.5% in the 2nd quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 71 shares during the last quarter. Finally, Amundi increased its position in shares of Simon Property Group by 12.0% during the 2nd quarter. Amundi now owns 1,796,940 shares of the real estate investment trust’s stock worth $298,083,000 after purchasing an additional 192,889 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Gary M. Rodkin bought 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. The trade was a 1.15% 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 Stefan M. Selig purchased 195 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $36,260.25. Following the completion of the purchase, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 2,121 shares of company stock valued at $394,400. Corporate insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of several research analyst reports. Citigroup upped their price objective on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. JPMorgan Chase & Co. increased their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Evercore ISI raised their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Scotiabank boosted their price objective on 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. Finally, Piper Sandler increased their target price on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $189.93.

Simon Property Group Trading Up 0.6%

NYSE SPG opened at $181.16 on Wednesday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The stock has a 50-day simple moving average of $180.78 and a 200 day simple moving average of $173.19. 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 company has a market capitalization of $59.14 billion, a PE ratio of 26.37, a P/E/G ratio of 8.77 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. 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. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.9%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is presently 125.18%.

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.