Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,063,661 shares of the real estate investment trust’s stock after acquiring an additional 61,866 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.33% of Simon Property Group worth $237,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in SPG. Stance Capital LLC purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at about $26,000. Wilkerson Advisory Group LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at about $29,000. N.E.W. Advisory Services LLC grew its stake in Simon Property Group by 335.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 134 shares during the last quarter. WPG Advisers LLC grew its stake in Simon Property Group by 40.3% during the 2nd quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 52 shares during the last quarter. Finally, SHP Wealth Management purchased a new position in Simon Property Group during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Insider Activity
In other news, Director Gary M. Rodkin acquired 256 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the transaction, the director owned 21,016 shares in the company, valued at $4,693,713.44. This represents a 1.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Larry C. Glasscock bought 397 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, with a total value of $88,681.86. Following the purchase, the director directly owned 45,902 shares in the company, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by company insiders.
Simon Property Group Stock Performance
Simon Property Group (NYSE:SPG – Get Free Report) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business posted $1.70 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.
Simon Property Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. Simon Property Group’s dividend payout ratio (DPR) is currently 63.47%.
Wall Street Analysts Forecast Growth
SPG has been the subject of a number of research reports. Jefferies Financial Group upgraded Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. Bank of America raised their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Wolfe Research cut shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Morgan Stanley upped their price target on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Finally, Evercore set a $215.00 price target on shares of Simon Property Group in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $222.87.
Check Out Our Latest Stock Report on Simon Property Group
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.
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