Rhumbline Advisers Trims Stake in Simon Property Group, Inc. $SPG

Rhumbline Advisers decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 670,602 shares of the real estate investment trust’s stock after selling 4,802 shares during the period. Rhumbline Advisers owned approximately 0.21% of Simon Property Group worth $125,852,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new stake in Simon Property Group in the second quarter valued at $30,000. Silicon Valley Capital Partners purchased a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc grew its holdings in shares of Simon Property Group by 205.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 146 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter worth approximately $39,000. Finally, Atlantic Union Bankshares Corp increased its stake in Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several research reports. 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 report on Thursday, January 8th. Scotiabank increased their price objective 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. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Tuesday, January 20th. Finally, Citigroup raised their price objective on shares of Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus target price of $197.93.

Insider Activity at Simon Property Group

In related news, Director Larry C. Glasscock purchased 363 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the acquisition, the director directly owned 43,899 shares in the company, valued at $8,165,214. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Glyn Aeppel acquired 216 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, with a total value of $40,176.00. Following the completion of the acquisition, the director owned 19,481 shares in the company, valued at approximately $3,623,466. The trade was a 1.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,192 shares of company stock valued at $407,712 over the last 90 days. 8.66% of the stock is currently owned by insiders.

Simon Property Group Price Performance

SPG stock opened at $194.89 on Thursday. The stock has a market capitalization of $63.62 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 7.21 and a beta of 1.39. The company has a quick ratio of 1.44, a current ratio of 0.90 and a debt-to-equity ratio of 4.42. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $201.40. The stock’s fifty day simple moving average is $186.52 and its 200-day simple moving average is $181.26.

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

Simon Property Group Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 4.5%. Simon Property Group’s dividend payout ratio (DPR) is currently 62.06%.

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