Simon Property Group, Inc. $SPG Shares Acquired by Ethic Inc.

Ethic Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 55,171 shares of the real estate investment trust’s stock after purchasing an additional 3,844 shares during the quarter. Ethic Inc.’s holdings in Simon Property Group were worth $10,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Simon Property Group during the second quarter worth about $1,051,262,000. JPMorgan Chase & Co. lifted its holdings in shares of Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after purchasing an additional 1,660,188 shares during the last quarter. Resolution Capital Ltd boosted its position in shares of Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after purchasing an additional 565,084 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at about $68,013,000. Finally, Acadian Asset Management LLC grew its stake in Simon Property Group by 354.5% during the 1st quarter. Acadian Asset Management LLC now owns 530,630 shares of the real estate investment trust’s stock worth $88,115,000 after buying an additional 413,871 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $187.57 on Tuesday. The stock has a fifty day moving average price of $182.40 and a 200 day moving average price of $175.57. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $61.24 billion, a PE ratio of 27.30, a P/E/G ratio of 9.15 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. 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. Sell-side 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. Investors of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is currently 128.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore ISI boosted their price objective on 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. Scotiabank lifted their target price on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Piper Sandler upped their price target on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Barclays raised their price objective on shares of Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $190.46.

Simon Property Group Company 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.