Prana Capital Management LP Has $24.40 Million Stock Position in Simon Property Group, Inc. $SPG

Prana Capital Management LP reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 42.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,033 shares of the real estate investment trust’s stock after selling 95,368 shares during the quarter. Prana Capital Management LP’s holdings in Simon Property Group were worth $24,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $1,051,262,000. Wellington Management Group LLP lifted its holdings in Simon Property Group by 634.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after purchasing an additional 6,366,711 shares during the last quarter. Capital World Investors lifted its holdings in Simon Property Group by 45.0% during the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock worth $1,573,450,000 after purchasing an additional 2,600,508 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Simon Property Group by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock valued at $8,761,093,000 after purchasing an additional 844,190 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on SPG. Piper Sandler reiterated an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. UBS Group boosted their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Scotiabank upped their price target on shares of Simon Property Group from $186.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Truist Financial raised their price target on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Finally, Barclays lifted their price objective on shares of Simon Property Group from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $199.36.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock acquired 363 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, with a total value of $67,518.00. Following the completion of the purchase, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. This represents a 0.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary M. Rodkin bought 226 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, for a total transaction of $42,036.00. Following the transaction, the director owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. The trade was a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,192 shares of company stock worth $407,712 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $190.63 on Wednesday. The company’s 50 day simple moving average is $192.47 and its 200 day simple moving average is $185.74. The stock has a market capitalization of $61.94 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 6.24 and a beta of 1.36. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $205.12.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, beating the consensus estimate of $3.47 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate 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 was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

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

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