Soltis Investment Advisors LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 86.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,696 shares of the real estate investment trust’s stock after selling 24,155 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Simon Property Group were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. Everett Harris & Co. CA lifted its position in shares of Simon Property Group by 0.5% during the third quarter. Everett Harris & Co. CA now owns 38,755 shares of the real estate investment trust’s stock worth $7,780,000 after purchasing an additional 207 shares during the last quarter. Interchange Capital Partners LLC grew its stake in Simon Property Group by 4.6% in the third quarter. Interchange Capital Partners LLC now owns 1,605 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 71 shares in the last quarter. North Dakota State Investment Board increased its holdings in Simon Property Group by 1.6% in the third quarter. North Dakota State Investment Board now owns 9,789 shares of the real estate investment trust’s stock valued at $1,965,000 after buying an additional 155 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in Simon Property Group by 8.0% in the third quarter. Generali Asset Management SPA SGR now owns 3,939 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 292 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Simon Property Group by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 616,182 shares of the real estate investment trust’s stock valued at $123,705,000 after buying an additional 12,917 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.
Simon Property Group Stock Up 1.0%
NYSE:SPG opened at $217.84 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. The stock has a 50 day moving average of $207.21 and a 200-day moving average of $205.73. The firm has a market capitalization of $70.48 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 3.35 and a beta of 1.30. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50.
Simon Property Group (NYSE:SPG – Get Free Report) last announced its quarterly 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). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $1.70 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts predict that Simon Property Group, Inc. will post 13.24 EPS for the current year.
Simon Property Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 63.47%.
Analyst Ratings Changes
A number of research firms have commented on SPG. Truist Financial assumed coverage on Simon Property Group in a report on Friday, October 2nd. They set a “hold” rating and a $215.00 target price on the stock. Evercore set a $216.00 price target on Simon Property Group in a report on Monday, September 21st. Barclays dropped their price target on Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Finally, BNP Paribas Exane started coverage on shares of Simon Property Group in a research note on Friday, October 9th. They set a “neutral” rating and a $222.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $224.07.
Check Out Our Latest Stock Report on SPG
Insider Buying and Selling
In other news, Director Gary Rodkin purchased 232 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The stock was bought at an average price of $202.78 per share, with a total value of $47,044.96. Following the completion of the acquisition, the director owned 21,248 shares in the company, valued at $4,308,669.44. The trade was a 1.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marta Stewart purchased 199 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average cost of $202.78 per share, with a total value of $40,353.22. Following the acquisition, the director owned 18,199 shares of the company’s stock, valued at approximately $3,690,393.22. This trade represents a 1.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,668 shares of company stock valued at $338,237 in the last three months. 8.73% of the stock is owned by corporate insiders.
Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops, and operates premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve both local shoppers and visitors.
The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.
Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.
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