LGT Fund Management Co Ltd. purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 49,321 shares of the real estate investment trust’s stock, valued at approximately $9,200,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stance Capital LLC acquired a new stake in shares of Simon Property Group during the third quarter valued at about $26,000. Wilkerson Advisory Group LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $29,000. SHP Wealth Management purchased a new position in Simon Property Group in the fourth quarter valued at about $34,000. Tompkins Financial Corp purchased a new position in Simon Property Group in the fourth quarter valued at about $42,000. Finally, Cullen Frost Bankers Inc. grew its stake in Simon Property Group by 79.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Analysts Set New Price Targets
SPG has been the topic of several analyst reports. Wolfe Research downgraded Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Truist Financial raised their price target on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. 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 report on Tuesday, June 9th. Weiss Ratings downgraded shares of Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective for the company. in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $213.07.
Simon Property Group Stock Performance
SPG traded down $1.00 during trading hours on Friday, hitting $218.71. 2,423,565 shares of the stock were exchanged, compared to its average volume of 2,507,849. The stock has a market cap of $70.92 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 3.95 and a beta of 1.29. The stock has a 50-day simple moving average of $211.32 and a 200-day simple moving average of $198.89. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a 12 month low of $159.33 and a 12 month high of $229.59.
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 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.
Simon Property Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a dividend of $2.25 per share. 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 was Tuesday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 62.54%.
Insider Transactions at Simon Property Group
In related news, Director Gary M. Rodkin purchased 256 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the transaction, the director owned 21,016 shares of the company’s stock, valued at $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel purchased 243 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the acquisition, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 2,387 shares of company stock valued at $533,056 over the last ninety days. Insiders own 8.73% of the company’s stock.
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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