Hamlin Capital Management LLC Buys 13,179 Shares of Simon Property Group, Inc. $SPG

Hamlin Capital Management LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 814,907 shares of the real estate investment trust’s stock after purchasing an additional 13,179 shares during the period. Simon Property Group accounts for 3.0% of Hamlin Capital Management LLC’s holdings, making the stock its 23rd biggest position. Hamlin Capital Management LLC’s holdings in Simon Property Group were worth $131,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. Park Square Financial Group LLC raised its stake in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth approximately $47,000. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler increased their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Evercore ISI increased their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday. Morgan Stanley increased their price target on 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. Finally, JPMorgan Chase & Co. increased their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $187.31.

Simon Property Group Stock Up 0.8%

SPG stock opened at $178.23 on Friday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $58.19 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 12.96 and a beta of 1.50. The business’s fifty day moving average price is $179.20 and its two-hundred day moving average price is $166.34. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

Insider Activity

In related news, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $38,677.60. Following the acquisition, the director owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Larry C. Glasscock bought 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares in the company, valued at $8,095,519.20. This represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 2,163 shares of company stock worth $401,605. Corporate 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.