Magnolia Capital Advisors LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG – Free Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,813 shares of the real estate investment trust’s stock, valued at approximately $629,000.
A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Simon Property Group during the 4th quarter valued at about $1,112,111,000. Legal & General Group Plc purchased a new position in Simon Property Group in the second quarter worth about $783,974,000. Canada Pension Plan Investment Board purchased a new position in Simon Property Group in the second quarter worth about $489,647,000. Caisse de depot et placement du Quebec bought a new stake in Simon Property Group during the second quarter worth approximately $143,948,000. Finally, Wellington Management Group LLP increased its stake in Simon Property Group by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock worth $1,469,748,000 after acquiring an additional 569,772 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Simon Property Group news, Director Daniel C. Smith bought 372 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the transaction, the director owned 34,480 shares in the company, valued at $7,699,728.80. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary M. Rodkin bought 256 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.34 per share, with a total value of $57,175.04. Following the completion of the purchase, the director directly owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. This trade represents a 1.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,387 shares of company stock worth $533,056 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on Simon Property Group
Simon Property Group Stock Down 0.9%
Shares of NYSE SPG opened at $217.12 on Thursday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $70.25 billion, a P/E ratio of 15.31, a PEG ratio of 2.73 and a beta of 1.30. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. The firm has a 50-day simple moving average of $223.39 and a two-hundred day simple moving average of $207.76.
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 (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.15). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.
Simon Property Group Announces Dividend
The firm also recently disclosed 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 is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. Simon Property Group’s payout ratio is presently 63.47%.
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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