Simon Property Group, Inc. $SPG Stock Position Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,407,014 shares of the real estate investment trust’s stock after selling 50,879 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.43% of Simon Property Group worth $282,472,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new position in shares of Simon Property Group in the 2nd quarter worth about $27,000. Osbon Capital Management LLC acquired a new position in Simon Property Group during the second quarter worth $32,000. Fiduciary Financial Advisors acquired a new stake in shares of Simon Property Group in the 2nd quarter worth about $34,000. Dynamic Wealth Strategies LLC lifted its holdings in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 139 shares in the last quarter. Finally, N.E.W. Advisory Services LLC lifted its stake in Simon Property Group by 335.0% during 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 in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.0%

Shares of Simon Property Group stock opened at $217.84 on Friday. The company’s 50 day moving average price is $207.21 and its 200-day moving average price is $205.73. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. 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 capitalization of $70.48 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 3.35 and a beta of 1.30.

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 the consensus estimate of $1.64 by ($0.15). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company earned $1.70 EPS. The company’s quarterly 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. Equities research analysts forecast that Simon Property Group, Inc. will post 13.24 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. Simon Property Group’s dividend payout ratio (DPR) is presently 63.47%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith acquired 350 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, for a total transaction of $70,973.00. Following the acquisition, the director owned 34,830 shares in the company, valued at $7,062,827.40. This represents a 1.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Reuben S. Leibowitz acquired 480 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, with a total value of $97,334.40. Following the acquisition, the director owned 56,277 shares in the company, valued at approximately $11,411,850.06. This trade represents a 0.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,668 shares of company stock worth $338,237 over the last 90 days. 8.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. UBS Group reduced their target price on shares of Simon Property Group from $222.00 to $205.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Truist Financial initiated coverage on Simon Property Group in a research note on Friday, October 2nd. They set a “hold” rating and a $215.00 price objective on the stock. Piper Sandler decreased their target price on shares of Simon Property Group from $285.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Finally, Mizuho raised 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $224.07.

Simon Property Group Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops, and operates premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve both local shoppers and visitors.

The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.