12,727 Shares in Simon Property Group, Inc. $SPG Bought by Cim LLC

Cim LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,727 shares of the real estate investment trust’s stock, valued at approximately $2,046,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Simon Property Group by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock valued at $7,369,128,000 after purchasing an additional 149,314 shares during the last quarter. State Street Corp lifted 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 purchasing an additional 228,819 shares during the last quarter. Geode Capital Management LLC boosted its position in Simon Property Group by 1.3% in the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. Norges Bank bought a new stake in shares of Simon Property Group during the second quarter worth $1,051,262,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Simon Property Group by 34.2% during 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 buying an additional 1,660,188 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Argus reissued a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Piper Sandler upped their price objective on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Morgan Stanley raised their price objective on shares of 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, Evercore ISI upped their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.93.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Larry C. Glasscock bought 351 shares of the stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This represents a 0.81% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 2,121 shares of company stock worth $394,400. 8.66% of the stock is owned by insiders.

Simon Property Group Price Performance

Simon Property Group stock opened at $181.98 on Friday. The stock’s 50 day moving average is $180.56 and its 200 day moving average is $173.57. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The firm 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 company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The company’s revenue for the quarter 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. As a group, research analysts expect 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. Shareholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s payout ratio is currently 128.09%.

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.