Handelsbanken Fonder AB Lowers Holdings in Simon Property Group, Inc. $SPG

Handelsbanken Fonder AB lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 148,982 shares of the real estate investment trust’s stock after selling 7,285 shares during the quarter. Handelsbanken Fonder AB’s holdings in Simon Property Group were worth $27,959,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners acquired a new position in shares of Simon Property Group in the second quarter worth $30,000. VSM Wealth Advisory LLC purchased a new position in Simon Property Group in the second quarter valued at $30,000. Atlantic Union Bankshares Corp grew its stake in Simon Property Group by 143.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 123 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Simon Property Group during the 3rd quarter worth $39,000. Finally, City Holding Co. purchased a new stake in Simon Property Group during the 3rd quarter worth about $40,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director directly owned 53,639 shares of the company’s stock, valued at $9,976,854. This represents a 0.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary M. Rodkin acquired 226 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, with a total value of $42,036.00. Following the purchase, the director owned 19,455 shares of the company’s stock, valued at $3,618,630. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 2,192 shares of company stock valued at $407,712. 8.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent research reports. Truist Financial lifted their price objective on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research note on Wednesday, December 17th. Mizuho set a $192.00 target price on shares of Simon Property Group in a report on Friday, January 9th. Piper Sandler reiterated an “overweight” rating and issued a $230.00 price target (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Finally, UBS Group raised their price objective on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $197.93.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $203.85 on Friday. The firm has a market capitalization of $66.55 billion, a P/E ratio of 14.38, a P/E/G ratio of 6.69 and a beta of 1.39. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $205.12. The company has a quick ratio of 1.44, a current ratio of 0.90 and a debt-to-equity ratio of 4.42. The firm’s 50 day moving average is $190.56 and its two-hundred day moving average is $183.99.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $3.68 EPS. The company’s revenue was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group declared that its Board of Directors has approved a share repurchase plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders 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 annualized dividend and a dividend yield of 4.3%. Simon Property Group’s dividend payout ratio (DPR) is presently 62.06%.

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.