Payden & Rygel Boosts Stock Holdings in Simon Property Group, Inc. $SPG

Payden & Rygel lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 21.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 79,850 shares of the real estate investment trust’s stock after acquiring an additional 14,200 shares during the quarter. Payden & Rygel’s holdings in Simon Property Group were worth $14,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Silicon Valley Capital Partners acquired a new position in shares of Simon Property Group in the second quarter worth about $30,000. VSM Wealth Advisory LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at about $30,000. Atlantic Union Bankshares Corp increased its stake in shares of Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 123 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Simon Property Group in the 3rd quarter worth about $39,000. Finally, City Holding Co. acquired a new position in Simon Property Group in the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Glyn Aeppel bought 216 shares of the stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the acquisition, the director directly owned 19,481 shares in the company, valued at approximately $3,623,466. This trade represents a 1.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry C. Glasscock purchased 363 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, with a total value of $67,518.00. Following the completion of the transaction, the director directly owned 43,899 shares of the company’s stock, valued at approximately $8,165,214. This represents a 0.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 2,192 shares of company stock worth $407,712. 8.60% of the stock is currently owned by insiders.

Simon Property Group Trading Up 0.9%

Shares of SPG stock opened at $201.48 on Monday. The stock’s fifty day moving average is $188.83 and its two-hundred day moving average is $182.99. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.44 and a current ratio of 0.90. The firm has a market capitalization of $65.78 billion, a P/E ratio of 14.21, a PEG ratio of 6.65 and a beta of 1.39. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $203.00.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.50 billion. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.68 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group declared that its board has approved a stock repurchase program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $2.20 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.4%. Simon Property Group’s dividend payout ratio is presently 62.06%.

Analysts Set New Price Targets

SPG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. UBS Group increased their target price on Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Truist Financial boosted their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, January 20th. Finally, Stifel Nicolaus boosted their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $197.93.

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.