Condor Capital Management Sells 9,078 Shares of Simon Property Group, Inc. $SPG

Condor Capital Management cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,501 shares of the real estate investment trust’s stock after selling 9,078 shares during the period. Condor Capital Management’s holdings in Simon Property Group were worth $3,472,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Federated Hermes Inc. grew its stake in Simon Property Group by 68.8% during the second quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after acquiring an additional 50,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Simon Property Group by 15.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after purchasing an additional 8,965 shares in the last quarter. National Pension Service increased its holdings in shares of Simon Property Group by 3.2% in the third quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after purchasing an additional 33,758 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Simon Property Group by 8.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,798 shares of the real estate investment trust’s stock worth $22,482,000 after buying an additional 9,267 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Simon Property Group by 740.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock valued at $28,546,000 after buying an additional 156,448 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial raised their price target on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, December 17th. Stifel Nicolaus raised their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, February 3rd. Mizuho set a $192.00 target price on shares of Simon Property Group in a research report on Friday, January 9th. Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a report on Friday, January 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a report 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 a consensus price target of $197.93.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel bought 216 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, with a total value of $40,176.00. Following the completion of the purchase, the director directly owned 19,481 shares of the company’s stock, valued at $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Reuben S. Leibowitz purchased 480 shares of the stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, with a total value of $89,280.00. Following the transaction, the director directly owned 53,639 shares in the company, valued at $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,192 shares of company stock worth $407,712 over the last ninety days. Insiders own 8.66% of the company’s stock.

Simon Property Group Stock Up 2.6%

SPG opened at $201.99 on Wednesday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $202.09. The company has a current ratio of 0.90, a quick ratio of 1.44 and a debt-to-equity ratio of 4.42. The business’s 50-day moving average price is $187.72 and its 200-day moving average price is $182.28. The company has a market cap of $65.94 billion, a P/E ratio of 14.24, a P/E/G ratio of 7.23 and a beta of 1.39.

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

Simon Property Group Dividend Announcement

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

Simon Property Group announced that its Board of Directors has approved a share repurchase program on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Simon Property Group Company 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.