Simon Property Group, Inc. $SPG is Smead Capital Management Inc.’s Largest Position

Smead Capital Management Inc. cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,915,505 shares of the real estate investment trust’s stock after selling 146,514 shares during the period. Simon Property Group makes up 6.9% of Smead Capital Management Inc.’s holdings, making the stock its biggest holding. Smead Capital Management Inc. owned 0.59% of Simon Property Group worth $359,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SPG. Howard Capital Management Inc. grew its stake in shares of Simon Property Group by 3.1% in the 3rd quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $408,000 after buying an additional 66 shares during the period. Wealth Alliance LLC lifted its holdings in Simon Property Group by 1.9% in the second quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock valued at $618,000 after acquiring an additional 70 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in Simon Property Group by 3.5% in the second quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 71 shares during the last quarter. Y.D. More Investments Ltd grew its position in Simon Property Group by 8.4% in the third quarter. Y.D. More Investments Ltd now owns 959 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 74 shares during the period. Finally, William Allan Corp increased its stake in Simon Property Group by 2.8% during the third quarter. William Allan Corp now owns 2,744 shares of the real estate investment trust’s stock worth $515,000 after acquiring an additional 76 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG opened at $201.48 on Friday. The stock’s 50-day moving average price is $188.83 and its 200 day moving average price is $182.79. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $203.00. The firm has a market cap of $65.78 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 6.58 and a beta of 1.39. The company has a current ratio of 0.90, a quick ratio of 1.44 and a debt-to-equity ratio of 4.42.

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, beating the consensus estimate of $3.47 by $0.02. The company had revenue of $1.79 billion during 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%.Simon Property Group’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio is presently 62.06%.

Simon Property Group announced that its Board of Directors has authorized a stock buyback program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy 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.

Analyst Ratings Changes

A number of research firms have commented on SPG. Evercore lifted their target price on Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a research report on Tuesday, February 3rd. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Citigroup increased their target price 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. Finally, Scotiabank boosted 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. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $197.93.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 226 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the acquisition, the director directly owned 19,455 shares in the company, valued at $3,618,630. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glyn Aeppel purchased 216 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, with a total value of $40,176.00. Following the purchase, the director owned 19,481 shares of the company’s stock, valued at approximately $3,623,466. This represents a 1.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 2,192 shares of company stock worth $407,712 over the last 90 days. 8.66% of the stock is currently owned by corporate insiders.

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.