Rakuten Investment Management Inc. Buys Shares of 4,796 Simon Property Group, Inc. $SPG

Rakuten Investment Management Inc. purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,796 shares of the real estate investment trust’s stock, valued at approximately $900,000.

Several other hedge funds and other institutional investors have also modified their holdings of SPG. Vanguard Group Inc. grew its stake in Simon Property Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock valued at $7,369,128,000 after purchasing an additional 149,314 shares in the last quarter. State Street Corp lifted its holdings in shares of Simon Property Group by 1.1% during the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after buying an additional 228,819 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Simon Property Group by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. Norges Bank acquired a new position in Simon Property Group in the second quarter worth approximately $1,051,262,000. Finally, JPMorgan Chase & Co. increased its holdings in Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after buying an additional 1,660,188 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPG has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. UBS Group raised their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Citigroup upped their price objective on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $194.64.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director directly owned 53,639 shares in the company, valued at $9,976,854. This trade represents a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock bought 363 shares of the stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the acquisition, the director directly owned 43,899 shares in the company, valued at approximately $8,165,214. The trade was a 0.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,192 shares of company stock worth $407,712 in the last ninety days. 8.66% of the stock is owned by insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $184.83 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm has a fifty day simple moving average of $184.23 and a 200-day simple moving average of $178.66. The stock has a market capitalization of $60.34 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 6.85 and a beta of 1.37. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $2.20 dividend. The ex-dividend date was Wednesday, December 10th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio is presently 128.09%.

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.