Fox Run Management L.L.C. bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 4,252 shares of the real estate investment trust’s stock, valued at approximately $951,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at $26,000. Wilkerson Advisory Group LLC bought a new position in Simon Property Group during the fourth quarter valued at about $29,000. SHP Wealth Management acquired a new position in Simon Property Group during the fourth quarter worth about $34,000. Dynamic Wealth Strategies LLC grew its holdings in Simon Property Group by 195.8% during the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 139 shares during the period. Finally, MV Capital Management Inc. bought a new stake in Simon Property Group in the fourth quarter worth about $46,000. Institutional investors own 93.01% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SPG shares. Jefferies Financial Group raised shares of Simon Property Group to a “strong-buy” rating in a report on Friday, June 26th. 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 research note on Tuesday. Scotiabank boosted their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Truist Financial increased their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a research note on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price for the company. in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $221.07.
Insider Transactions at Simon Property Group
In related news, Director Gary M. Rodkin acquired 256 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glyn Aeppel purchased 243 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director directly owned 21,067 shares of the company’s stock, valued at $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. In the last quarter, insiders have acquired 2,387 shares of company stock worth $533,056. 8.73% of the stock is owned by company insiders.
Simon Property Group Price Performance
NYSE SPG opened at $219.34 on Friday. The stock’s 50-day moving average price is $222.30 and its two-hundred day moving average price is $205.94. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 5.19. The company has a market cap of $71.13 billion, a PE ratio of 15.47, a PEG ratio of 2.86 and a beta of 1.30. Simon Property Group, Inc. has a 1 year low of $171.22 and a 1 year high of $238.50.
Simon Property Group (NYSE:SPG – Get Free Report) last released 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 return on equity of 89.32% and a net margin of 66.56%.The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business earned $1.70 earnings per share. The business’s revenue 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. On average, analysts predict that Simon Property Group, Inc. will post 13.2 EPS for the current year.
Simon Property Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. Simon Property Group’s dividend payout ratio is currently 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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