Voya Investment Management LLC Cuts Holdings in Simon Property Group, Inc. $SPG

Voya Investment Management LLC lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 21.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,997 shares of the real estate investment trust’s stock after selling 52,627 shares during the quarter. Voya Investment Management LLC’s holdings in Simon Property Group were worth $37,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $295,000. Kovitz Investment Group Partners LLC raised its holdings in Simon Property Group by 11.6% in the first quarter. Kovitz Investment Group Partners LLC now owns 1,516 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 158 shares during the period. CW Advisors LLC raised its holdings in Simon Property Group by 79.9% in the first quarter. CW Advisors LLC now owns 4,249 shares of the real estate investment trust’s stock valued at $706,000 after buying an additional 1,887 shares during the period. Bragg Financial Advisors Inc lifted its position in Simon Property Group by 22.7% during the first quarter. Bragg Financial Advisors Inc now owns 1,753 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 324 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Simon Property Group by 5.4% during the first quarter. Ameriprise Financial Inc. now owns 1,311,637 shares of the real estate investment trust’s stock worth $217,654,000 after buying an additional 67,137 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock opened at $184.60 on Friday. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The company’s fifty day moving average price is $181.16 and its two-hundred day moving average price is $174.33. The firm has a market capitalization of $60.27 billion, a P/E ratio of 26.87, a P/E/G ratio of 9.01 and a beta of 1.37. 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 announced 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. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPG. Barclays raised their target price on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Piper Sandler raised their price objective on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Citigroup boosted their price objective on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Evercore ISI upped their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Finally, Scotiabank raised their target price on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $190.46.

Insider Buying and Selling

In other news, Director Stefan M. Selig acquired 195 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the purchase, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This represents a 0.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the acquisition, the director owned 19,229 shares in the company, valued at $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 2,121 shares of company stock worth $394,400. 8.66% of the stock is currently owned by insiders.

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.