Aberdeen Group plc Purchases 32,235 Shares of Simon Property Group, Inc. $SPG

Aberdeen Group plc grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,785 shares of the real estate investment trust’s stock after acquiring an additional 32,235 shares during the period. Aberdeen Group plc’s holdings in Simon Property Group were worth $104,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. PDS Planning Inc grew its stake in Simon Property Group by 7.5% in the 2nd quarter. PDS Planning Inc now owns 1,682 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 117 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Simon Property Group by 41.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,232 shares of the real estate investment trust’s stock worth $1,002,000 after acquiring an additional 1,835 shares in the last quarter. IFP Advisors Inc grew its stake in Simon Property Group by 4.6% in the 2nd quarter. IFP Advisors Inc now owns 4,281 shares of the real estate investment trust’s stock worth $692,000 after acquiring an additional 187 shares in the last quarter. Callan Family Office LLC grew its stake in Simon Property Group by 218.0% in the 2nd quarter. Callan Family Office LLC now owns 6,271 shares of the real estate investment trust’s stock worth $1,008,000 after acquiring an additional 4,299 shares in the last quarter. Finally, Leo Wealth LLC bought a new position in Simon Property Group in the 2nd quarter worth about $226,000. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on SPG shares. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a research note on Tuesday, September 2nd. Argus restated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $187.23.

Insider Activity at Simon Property Group

In other news, Director Glyn Aeppel bought 208 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the transaction, the director directly owned 32,333 shares of the company’s stock, valued at $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock valued at $401,605 over the last three months. Company insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $175.39 on Friday. 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 $178.12 and its 200-day moving average price is $165.96. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $57.26 billion, a PE ratio of 27.11, a P/E/G ratio of 10.83 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $2.90 earnings per share. Simon Property Group’s revenue for the quarter 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. Sell-side analysts forecast 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 was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. Simon Property Group’s dividend payout ratio is currently 132.92%.

Simon Property Group Company 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.