Simon Property Group, Inc. $SPG Shares Sold by Diversified Trust Co

Diversified Trust Co reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 21.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,370 shares of the real estate investment trust’s stock after selling 4,393 shares during the period. Diversified Trust Co’s holdings in Simon Property Group were worth $3,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SPG. Vanguard Group Inc. increased its stake in 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 worth $7,369,128,000 after buying an additional 149,314 shares during the period. State Street Corp boosted its position 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 buying an additional 228,819 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Simon Property Group by 1.3% during 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 acquiring an additional 127,636 shares in the last quarter. Norges Bank acquired a new stake in shares of Simon Property Group during the second quarter valued at about $1,051,262,000. Finally, JPMorgan Chase & Co. increased its position 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 acquiring an additional 1,660,188 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPG. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Truist Financial raised their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Argus restated a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Morgan Stanley upped their price target 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, Citigroup raised their price objective on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $190.46.

Simon Property Group Stock Performance

Shares of SPG opened at $186.84 on Wednesday. The stock has a market capitalization of $61.00 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 9.14 and a beta of 1.37. The business’s fifty day moving average price is $182.56 and its 200 day moving average price is $175.78. 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, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last issued 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. 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 for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $2.20 dividend. The ex-dividend date is Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a yield of 4.7%. Simon Property Group’s payout ratio is presently 128.09%.

About Simon Property Group

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.