Inspire Investing LLC Grows Stake in Simon Property Group, Inc. $SPG

Inspire Investing LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,337 shares of the real estate investment trust’s stock after purchasing an additional 1,078 shares during the period. Simon Property Group makes up 0.6% of Inspire Investing LLC’s portfolio, making the stock its 27th biggest holding. Inspire Investing LLC’s holdings in Simon Property Group were worth $5,359,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Simon Property Group in the first quarter worth $724,937,000. Principal Financial Group Inc. grew its position in Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock worth $532,529,000 after acquiring an additional 1,830,264 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Simon Property Group in the first quarter worth $197,377,000. Goldman Sachs Group Inc. grew its position in Simon Property Group by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after acquiring an additional 604,016 shares in the last quarter. Finally, Resolution Capital Ltd grew its position in Simon Property Group by 45.8% in the first quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after acquiring an additional 565,084 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Simon Property Group in a research note on Saturday, September 27th. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Finally, Argus reissued a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $187.23.

Insider Buying and Selling

In other Simon Property Group news, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel purchased 208 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction 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. This trade represents a 1.09% increase in their position. 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 in the last ninety days. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $175.39 on Friday. The company has a market cap of $57.26 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 10.83 and a beta of 1.50. The company has a 50-day moving average price of $178.12 and a 200-day moving average price of $165.96. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 earnings per share. 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 year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.9%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is 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.