Invesco Ltd. Lowers Stock Holdings in Simon Property Group, Inc. $SPG

Invesco Ltd. cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,389,015 shares of the real estate investment trust’s stock after selling 272,188 shares during the period. Invesco Ltd. owned 1.04% of Simon Property Group worth $544,818,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SPG. 1832 Asset Management L.P. acquired a new position in Simon Property Group in the second quarter valued at $3,508,000. CW Advisors LLC boosted its stake in Simon Property Group by 56.6% in the 2nd quarter. CW Advisors LLC now owns 6,653 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 2,404 shares during the last quarter. PharVision Advisers LLC grew its holdings in Simon Property Group by 57.9% in the 2nd quarter. PharVision Advisers LLC now owns 2,507 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 919 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the 2nd quarter valued at about $162,000. Finally, Groupe la Francaise lifted its holdings in shares of Simon Property Group by 28.4% during the 2nd quarter. Groupe la Francaise now owns 43,658 shares of the real estate investment trust’s stock worth $6,990,000 after acquiring an additional 9,658 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Stifel Nicolaus lifted 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. Barclays boosted their price objective on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Piper Sandler upped their price objective on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $189.93.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $183.20 on Friday. The business’s 50-day simple moving average is $181.09 and its 200 day simple moving average is $172.56. The company has a market cap of $59.81 billion, a P/E ratio of 26.67, a PEG ratio of 8.88 and a beta of 1.37. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

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, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.Simon Property Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a $2.20 dividend. The ex-dividend date is Wednesday, December 10th. 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. Simon Property Group’s dividend payout ratio (DPR) is presently 125.18%.

Insider Buying and Selling

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the acquisition, the director owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock acquired 351 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the acquisition, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 2,121 shares of company stock worth $394,400 over the last quarter. Company insiders own 8.66% of the company’s stock.

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.