Simon Property Group, Inc. $SPG Position Increased by Vert Asset Management LLC

Vert Asset Management LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 4.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 128,817 shares of the real estate investment trust’s stock after purchasing an additional 5,580 shares during the period. Simon Property Group makes up 8.1% of Vert Asset Management LLC’s holdings, making the stock its 2nd biggest position. Vert Asset Management LLC’s holdings in Simon Property Group were worth $24,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Trust Co. of Toledo NA OH purchased a new position in Simon Property Group during the 2nd quarter valued at about $25,000. Silicon Valley Capital Partners purchased a new stake in shares of Simon Property Group in the second quarter valued at about $30,000. VSM Wealth Advisory LLC acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $30,000. Salomon & Ludwin LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $39,000. Finally, City Holding Co. purchased a new position in shares of Simon Property Group during the 3rd quarter worth approximately $40,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.1%

Shares of SPG traded down $0.11 during trading hours on Tuesday, hitting $184.81. The stock had a trading volume of 197,248 shares, compared to its average volume of 1,341,936. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The firm has a market cap of $60.33 billion, a P/E ratio of 26.87, a P/E/G ratio of 8.81 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. The company’s fifty day simple moving average is $184.15 and its 200 day simple moving average is $178.20.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business earned $3.05 EPS. The company’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. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a dividend of $2.20 per share. This is a boost 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 4.8%. The ex-dividend date was Wednesday, December 10th. Simon Property Group’s payout ratio is presently 128.09%.

Analysts Set New Price Targets

A number of research firms recently commented on SPG. Mizuho set a $192.00 price objective on Simon Property Group in a research note on Friday, January 9th. UBS Group raised their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research note on Tuesday. Scotiabank lifted their target price on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley set a $205.00 price target on Simon Property Group in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $194.64.

Insiders Place Their Bets

In related news, Director Larry C. Glasscock bought 363 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the acquisition, the director owned 43,899 shares in the company, valued at $8,165,214. This represents a 0.83% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel purchased 216 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, with a total value of $40,176.00. Following the acquisition, the director owned 19,481 shares in the company, valued at $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 2,192 shares of company stock valued at $407,712. Company insiders own 8.60% 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.