Vestor Capital LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 33,057.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,004 shares of the real estate investment trust’s stock after purchasing an additional 61,817 shares during the quarter. Vestor Capital LLC’s holdings in Simon Property Group were worth $12,448,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of SPG. Ancora Advisors LLC acquired a new position in Simon Property Group during the second quarter valued at approximately $27,000. Fulcrum Asset Management LLP purchased a new stake in Simon Property Group during the third quarter worth approximately $27,000. Osbon Capital Management LLC acquired a new stake in shares of Simon Property Group in the second quarter worth $32,000. Fiduciary Financial Advisors acquired a new stake in shares of Simon Property Group in the second quarter worth $34,000. Finally, N.E.W. Advisory Services LLC raised its stake in shares of Simon Property Group by 335.0% in the 2nd quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Insider Activity at Simon Property Group
In other Simon Property Group news, Director Stefan Selig acquired 208 shares of the stock in a transaction dated Wednesday, September 30th. The shares were bought at an average price of $202.78 per share, with a total value of $42,178.24. Following the purchase, the director directly owned 34,020 shares of the company’s stock, valued at approximately $6,898,575.60. This trade represents a 0.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reuben Leibowitz bought 480 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, for a total transaction of $97,334.40. Following the completion of the acquisition, the director directly owned 56,277 shares in the company, valued at approximately $11,411,850.06. This represents a 0.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 1,668 shares of company stock worth $338,237. Company insiders own 8.73% of the company’s stock.
Analyst Ratings Changes
SPG has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Mizuho increased their price target on Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. Barclays lowered their price target on Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, September 28th. JPMorgan Chase & Co. cut their price objective on Simon Property Group from $231.00 to $223.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th. Finally, BNP Paribas Exane initiated coverage on Simon Property Group in a research note on Friday, October 9th. They set a “neutral” rating and a $222.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $228.67.
Read Our Latest Analysis on Simon Property Group
Simon Property Group Stock Up 2.1%
Shares of NYSE:SPG opened at $233.11 on Tuesday. The company has a market capitalization of $75.42 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.52 and a beta of 1.27. The company has a 50 day moving average of $208.34 and a two-hundred day moving average of $207.00. Simon Property Group, Inc. has a 52-week low of $177.88 and a 52-week high of $238.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19.
Simon Property Group (NYSE:SPG – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $1.68. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $3.22 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 13.25 earnings per share for the current fiscal year.
Simon Property Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th will be given a dividend of $2.30 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, December 10th. This represents a $9.20 annualized dividend and a dividend yield of 3.9%. Simon Property Group’s payout ratio is 64.94%.
About Simon Property Group
Simon Property Group is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment.
The company’s properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.
Simon Property Group was established in 1993, when it became a publicly traded company following a spin-off from Melvin Simon & Associates.
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