Staley Capital Advisers Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 23.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,100 shares of the real estate investment trust’s stock after purchasing an additional 11,050 shares during the period. Staley Capital Advisers Inc.’s holdings in Simon Property Group were worth $11,024,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Stance Capital LLC purchased a new stake in Simon Property Group in the 3rd quarter valued at about $26,000. Wilkerson Advisory Group LLC purchased a new position in Simon Property Group during the fourth quarter worth about $29,000. SHP Wealth Management acquired a new stake in shares of Simon Property Group during the fourth quarter valued at about $34,000. Tompkins Financial Corp purchased a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $42,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Simon Property Group by 79.3% in the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 111 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Simon Property Group
In other news, Director Daniel C. Smith purchased 372 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the purchase, the director directly owned 34,480 shares of the company’s stock, valued at $7,699,728.80. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marta R. Stewart purchased 182 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.16 per share, with a total value of $40,615.12. Following the acquisition, the director directly owned 18,000 shares in the company, valued at $4,016,880. This represents a 1.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 2,387 shares of company stock valued at $533,056 over the last quarter. Insiders own 8.73% of the company’s stock.
Simon Property Group Stock Down 3.4%
Simon Property Group (NYSE:SPG – Get Free Report) last released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $2.95 EPS. Simon Property Group’s revenue for the quarter was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.1%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group’s dividend payout ratio is 62.54%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on SPG shares. Barclays increased their price objective on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Bank of America upped their price target on Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Citigroup raised their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wolfe Research cut Simon Property Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus increased their target price on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $211.93.
Read Our Latest Stock Analysis on SPG
About Simon Property Group
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.
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