Oliver Luxxe Assets LLC Raises Stock Position in Simon Property Group, Inc. $SPG

Oliver Luxxe Assets LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,073 shares of the real estate investment trust’s stock after purchasing an additional 3,493 shares during the quarter. Simon Property Group accounts for 1.2% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 23rd biggest position. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $7,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new stake in Simon Property Group in the fourth quarter valued at about $295,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Simon Property Group in the 1st quarter worth approximately $539,000. Great Lakes Advisors LLC increased its holdings in shares of Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after acquiring an additional 68 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Simon Property Group by 68.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,433 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 583 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Simon Property Group by 16.3% during the first quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust’s stock worth $34,996,000 after purchasing an additional 29,479 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.2%

NYSE SPG opened at $184.60 on Friday. The company has a market capitalization of $60.27 billion, a P/E ratio of 26.87, a PEG ratio of 8.81 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. 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 50 day simple moving average is $183.78 and its 200 day simple moving average is $177.16.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the company posted $3.05 earnings per share. The business’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 expect 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 announced 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. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SPG shares. Stifel Nicolaus lifted their target price on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Mizuho set a $192.00 price target on Simon Property Group in a report on Friday. UBS Group upped their price objective on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday. 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 research note on Thursday, November 13th. Finally, Barclays upped their price target on shares of Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $191.54.

Insider Buying and Selling

In related news, Director Gary M. Rodkin bought 226 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 $42,036.00. Following the purchase, the director directly owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Glyn Aeppel purchased 216 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the purchase, the director directly owned 19,481 shares of the company’s stock, valued at $3,623,466. The trade was a 1.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 2,192 shares of company stock worth $407,712 over the last ninety days. 8.66% of the stock is currently owned by corporate 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.