Simon Property Group, Inc. $SPG Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the 3rd quarter, Holdings Channel reports. The fund owned 2,837,284 shares of the real estate investment trust’s stock after selling 43,213 shares during the period. Principal Financial Group Inc.’s holdings in Simon Property Group were worth $532,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $295,000. Truist Financial Corp grew its holdings in shares of Simon Property Group by 3.0% during the second quarter. Truist Financial Corp now owns 39,433 shares of the real estate investment trust’s stock valued at $6,339,000 after buying an additional 1,157 shares in the last quarter. Pure Financial Advisors LLC acquired a new position in Simon Property Group during the second quarter valued at $207,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Simon Property Group by 0.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,755 shares of the real estate investment trust’s stock worth $9,285,000 after acquiring an additional 445 shares in the last quarter. Finally, Triad Wealth Partners LLC boosted its position in Simon Property Group by 16.6% during the 2nd quarter. Triad Wealth Partners LLC now owns 1,538 shares of the real estate investment trust’s stock worth $247,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $191.34 on Friday. The firm has a 50 day moving average of $184.80 and a two-hundred day moving average of $179.53. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $192.25. The company has a market capitalization of $62.47 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 7.04 and a beta of 1.37. 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 released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating 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 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 firm earned $3.05 EPS. Simon Property Group’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, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $2.20 dividend. 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 dividend yield of 4.6%. The ex-dividend date of this dividend was Wednesday, December 10th. Simon Property Group’s payout ratio is presently 128.09%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SPG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Scotiabank upped their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Truist Financial increased their target price 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. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Finally, Citigroup increased their price objective on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $194.64.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 480 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the acquisition, the director owned 53,639 shares in the company, valued at $9,976,854. This trade represents a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin bought 226 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, with a total value of $42,036.00. Following the transaction, the director directly owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This trade represents a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,192 shares of company stock worth $407,712 in the last 90 days. Insiders own 8.66% of the company’s stock.

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.