Federated Hermes Inc. Sells 32,566 Shares of Simon Property Group, Inc. $SPG

Federated Hermes Inc. decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 26.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 92,346 shares of the real estate investment trust’s stock after selling 32,566 shares during the quarter. Federated Hermes Inc.’s holdings in Simon Property Group were worth $17,331,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SPG. Truist Financial Corp increased its holdings in Simon Property Group by 2.3% in the third quarter. Truist Financial Corp now owns 40,333 shares of the real estate investment trust’s stock valued at $7,569,000 after purchasing an additional 900 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Simon Property Group by 24.2% during the third quarter. Belpointe Asset Management LLC now owns 4,928 shares of the real estate investment trust’s stock worth $925,000 after buying an additional 960 shares during the last quarter. Chilton Capital Management LLC grew its position in shares of Simon Property Group by 7.5% during the 3rd quarter. Chilton Capital Management LLC now owns 5,072 shares of the real estate investment trust’s stock worth $952,000 after buying an additional 353 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $234,000. Finally, Purkiss Capital Advisors LLC increased its stake in shares of Simon Property Group by 7.9% in the 3rd quarter. Purkiss Capital Advisors LLC now owns 3,459 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Scotiabank lifted their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Truist Financial lifted their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a report on Friday, January 16th. Stifel Nicolaus raised their price objective on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $194.64.

Simon Property Group Trading Up 0.8%

Shares of NYSE:SPG opened at $191.34 on Friday. The firm has a market cap of $62.47 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 7.04 and a beta of 1.37. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $192.25. The company’s fifty day simple moving average is $184.80 and its 200 day simple moving average is $179.53. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59.

Simon Property Group (NYSE:SPG) last released 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. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The company’s revenue 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. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 4.6%. The ex-dividend date was Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 216 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the acquisition, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. This trade represents a 1.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Reuben S. Leibowitz bought 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, with a total value of $89,280.00. Following the transaction, the director owned 53,639 shares of the company’s stock, valued at $9,976,854. This represents a 0.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 2,192 shares of company stock worth $407,712. 8.66% of the stock is currently owned by insiders.

Simon Property Group 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.