The Manufacturers Life Insurance Company Invests $55.59 Million in Simon Property Group, Inc. $SPG

The Manufacturers Life Insurance Company acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the second quarter, HoldingsChannel reports. The fund acquired 248,541 shares of the real estate investment trust’s stock, valued at approximately $55,586,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPG. Stance Capital LLC bought a new position in Simon Property Group during the third quarter worth about $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $29,000. Osbon Capital Management LLC bought a new stake in shares of Simon Property Group in the 2nd quarter valued at about $32,000. SHP Wealth Management acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. Finally, Fiduciary Financial Advisors acquired a new position in Simon Property Group during the second quarter valued at approximately $34,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SPG. Bank of America upped their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Evercore set a $215.00 price target on shares of Simon Property Group in a research report on Tuesday, July 7th. Citigroup upped their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Piper Sandler raised their price objective on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Simon Property Group has an average rating of “Hold” and an average target price of $223.00.

Simon Property Group Price Performance

NYSE SPG opened at $218.92 on Wednesday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 2.75 and a beta of 1.30. The business has a 50 day simple moving average of $223.25 and a 200 day simple moving average of $207.62. 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) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group’s payout ratio is currently 63.47%.

Insiders Place Their Bets

In other news, Director Glyn Aeppel purchased 243 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.36 per share, with a total value of $54,276.48. Following the purchase, the director directly owned 21,067 shares of the company’s stock, valued at $4,705,525.12. This trade represents a 1.17% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock purchased 397 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the acquisition, the director owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This represents a 0.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,387 shares of company stock worth $533,056 in the last ninety days. 8.73% of the stock is owned by insiders.

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.