Simon Property Group, Inc. $SPG Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 9.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,595,216 shares of the real estate investment trust’s stock after selling 263,589 shares during the quarter. Principal Financial Group Inc.’s holdings in Simon Property Group were worth $484,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Norges Bank purchased a new position in Simon Property Group during the fourth quarter valued at approximately $1,112,111,000. Wellington Management Group LLP boosted its position in Simon Property Group by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock worth $1,469,748,000 after purchasing an additional 569,772 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Simon Property Group by 1,329.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock worth $86,723,000 after purchasing an additional 435,721 shares in the last quarter. Bbfit Investments PTE Ltd. acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $80,060,000. Finally, Geode Capital Management LLC grew its position in Simon Property Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after buying an additional 363,337 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Glyn Aeppel purchased 243 shares of Simon Property Group stock in a transaction dated 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 transaction, the director owned 21,067 shares in the company, valued at $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry C. Glasscock bought 397 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $223.38 per share, with a total value of $88,681.86. Following the purchase, the director owned 45,902 shares of the company’s stock, valued at $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 2,387 shares of company stock worth $533,056 over the last ninety days. 8.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. Citigroup raised their target price on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Barclays increased their target price on Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Evercore set a $215.00 price target on shares of Simon Property Group in a report on Tuesday, July 7th. Finally, Weiss Ratings cut shares of Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $213.07.

Simon Property Group Trading Up 0.4%

Shares of Simon Property Group stock opened at $219.56 on Tuesday. Simon Property Group, Inc. has a 1-year low of $159.33 and a 1-year high of $229.59. The stock has a market cap of $71.20 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.83 and a beta of 1.29. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $211.64 and its 200-day simple moving average is $199.20.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group’s payout ratio is presently 62.54%.

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.