Skandinaviska Enskilda Banken AB publ Sells 76,266 Shares of Simon Property Group, Inc. $SPG

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 33.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,691 shares of the real estate investment trust’s stock after selling 76,266 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Simon Property Group were worth $28,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SPG. M&G PLC grew its stake in Simon Property Group by 857.1% in the 3rd quarter. M&G PLC now owns 11,858 shares of the real estate investment trust’s stock valued at $2,229,000 after buying an additional 10,619 shares during the last quarter. Zions Bancorporation National Association UT grew its position in shares of Simon Property Group by 22.7% in the third quarter. Zions Bancorporation National Association UT now owns 637 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 118 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after purchasing an additional 844,190 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Simon Property Group by 6.3% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,405 shares of the real estate investment trust’s stock worth $1,953,000 after purchasing an additional 617 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Simon Property Group by 1.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 263,891 shares of the real estate investment trust’s stock valued at $49,524,000 after purchasing an additional 4,331 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPG. Morgan Stanley set a $205.00 price target on Simon Property Group in a report on Friday, January 16th. Truist Financial increased their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, January 20th. Piper Sandler reaffirmed an “overweight” rating and set a $230.00 price objective (up previously from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Finally, Mizuho set a $192.00 target price on Simon Property Group in a research report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $197.93.

Simon Property Group Stock Up 2.6%

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

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $3.68 earnings per share. Simon Property Group’s quarterly 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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $2.20 dividend. 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 4.4%. Simon Property Group’s dividend payout ratio (DPR) is currently 62.06%.

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

Insider Buying and Selling at Simon Property Group

In other news, Director Larry C. Glasscock acquired 363 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reuben S. Leibowitz bought 480 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the completion of the transaction, the director owned 53,639 shares in the company, valued at approximately $9,976,854. This trade represents a 0.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,192 shares of company stock valued at $407,712 over the last ninety days. Company insiders own 8.66% of the company’s stock.

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.