Simon Property Group, Inc. $SPG Shares Bought by Aviva PLC

Aviva PLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 698.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,931 shares of the real estate investment trust’s stock after acquiring an additional 213,374 shares during the quarter. Aviva PLC owned about 0.07% of Simon Property Group worth $39,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPG. Trust Co. of Toledo NA OH purchased a new position in Simon Property Group during the 2nd quarter worth $25,000. Richardson Financial Services Inc. grew its holdings in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 111 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Simon Property Group during the first quarter worth about $47,000. TCTC Holdings LLC increased its position in Simon Property Group by 93.5% in the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 186 shares during the period. Finally, Graybill Wealth Management LTD. purchased a new stake in Simon Property Group during the 1st quarter valued at approximately $72,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.6%

Shares of NYSE:SPG opened at $183.62 on Monday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company’s fifty day moving average is $180.44 and its two-hundred day moving average is $169.74. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $59.95 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

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. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 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 8.2% on a year-over-year basis. During the same quarter last year, the company posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on SPG. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Evercore ISI increased their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Piper Sandler lifted their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, Morgan Stanley upped their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $187.69.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel C. Smith purchased 335 shares of the stock in a transaction dated 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 acquisition, the director directly owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is currently owned by insiders.

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.