New England Research & Management Inc. Has $498,000 Holdings in Simon Property Group, Inc. $SPG

New England Research & Management Inc. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 23.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,100 shares of the real estate investment trust’s stock after buying an additional 595 shares during the quarter. New England Research & Management Inc.’s holdings in Simon Property Group were worth $498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SPG. Farther Finance Advisors LLC boosted its holdings in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 789 shares during the period. Golden State Wealth Management LLC boosted its holdings in Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 509 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $295,000. Clark Capital Management Group Inc. purchased a new position in Simon Property Group during the first quarter valued at $39,370,000. Finally, AQR Capital Management LLC boosted its stake in shares of Simon Property Group by 45.4% during the 1st quarter. AQR Capital Management LLC now owns 211,810 shares of the real estate investment trust’s stock worth $34,773,000 after purchasing an additional 66,174 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Glyn Aeppel acquired 234 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the purchase, the director owned 19,057 shares of the company’s stock, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin bought 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 2,428 shares of company stock worth $387,271. 8.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPG. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 target price for the company. Evercore ISI reiterated an “in-line” rating and set a $187.00 target price (up from $183.00) on shares of Simon Property Group in a research note on Monday. Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Finally, Truist Financial raised their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $185.69.

Simon Property Group Stock Performance

SPG opened at $183.97 on Tuesday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The firm’s 50-day moving average price is $171.11 and its 200-day moving average price is $164.14. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market cap of $60.07 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 11.05 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $2.90 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

About Simon Property Group

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.