Panagora Asset Management Inc. Has $145.25 Million Holdings in Simon Property Group, Inc. $SPG

Panagora Asset Management Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 874,571 shares of the real estate investment trust’s stock after selling 128,920 shares during the period. Simon Property Group makes up approximately 0.7% of Panagora Asset Management Inc.’s holdings, making the stock its 27th largest holding. Panagora Asset Management Inc. owned approximately 0.27% of Simon Property Group worth $145,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Nuveen LLC bought a new position in Simon Property Group during the first quarter valued at about $724,937,000. Principal Financial Group Inc. increased its stake in Simon Property Group by 133.0% during the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock valued at $532,529,000 after acquiring an additional 1,830,264 shares during the period. Resolution Capital Ltd bought a new position in Simon Property Group during the fourth quarter valued at about $212,592,000. Massachusetts Financial Services Co. MA bought a new position in Simon Property Group during the first quarter valued at about $197,377,000. Finally, GAMMA Investing LLC increased its stake in Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust’s stock valued at $145,608,000 after acquiring an additional 871,405 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday. Piper Sandler lowered their price objective on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Truist Financial upped their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Mizuho lowered their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 10th. Finally, Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $184.91.

Simon Property Group Stock Up 0.9%

NYSE SPG opened at $180.95 on Friday. The firm has a market cap of $59.08 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 10.86 and a beta of 1.48. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock’s 50 day simple moving average is $166.93 and its 200 day simple moving average is $164.70. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 129.83%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary M. Rodkin acquired 246 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 over the last 90 days. 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.