Simon Property Group, Inc. $SPG Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 20.8% during the third quarter, HoldingsChannel reports. The fund owned 164,245 shares of the real estate investment trust’s stock after selling 43,043 shares during the period. Korea Investment CORP’s holdings in Simon Property Group were worth $30,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPG. Federated Hermes Inc. boosted its holdings in shares of Simon Property Group by 68.8% in the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after buying an additional 50,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 worth $12,521,000 after acquiring an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Simon Property Group during the 3rd quarter worth $3,598,000. National Pension Service lifted its position in 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 valued at $202,743,000 after acquiring an additional 33,758 shares during the last quarter. Finally, Aew Capital Management L P lifted its position in Simon Property Group by 90.9% in the third quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock valued at $99,494,000 after acquiring an additional 252,510 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SPG. Evercore raised their price objective on Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a report on Tuesday, February 3rd. Citigroup boosted their target price on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. UBS Group upped 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. Mizuho set a $192.00 price target on Simon Property Group in a research note on Friday, January 9th. Finally, Scotiabank lifted their price target on Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $199.36.

Simon Property Group Trading Down 1.1%

NYSE SPG opened at $192.76 on Tuesday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $62.64 billion, a PE ratio of 13.59, a P/E/G ratio of 6.42 and a beta of 1.35. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $205.12. The firm’s fifty day moving average is $191.98 and its two-hundred day moving average is $185.28.

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

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 annualized dividend and a yield of 4.6%. Simon Property Group’s dividend payout ratio is currently 62.06%.

Simon Property Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 216 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, with a total value of $40,176.00. Following the transaction, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. The trade was a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reuben S. Leibowitz bought 480 shares of the stock in a transaction on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the completion of the purchase, the director directly owned 53,639 shares in the company, valued at approximately $9,976,854. The trade was a 0.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 2,192 shares of company stock worth $407,712 in the last ninety days. Company insiders own 8.60% of the company’s stock.

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.