Xponance Inc. Grows Position in Simon Property Group, Inc. $SPG

Xponance Inc. boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,548 shares of the real estate investment trust’s stock after purchasing an additional 11,389 shares during the period. Xponance Inc.’s holdings in Simon Property Group were worth $17,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. Vanguard Group Inc. grew its position in Simon Property Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock valued at $8,761,093,000 after acquiring an additional 844,190 shares during the period. State Street Corp lifted its stake in shares of Simon Property Group by 1.1% in the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after purchasing an additional 228,819 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Simon Property Group by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after purchasing an additional 127,636 shares during the period. Norges Bank acquired a new stake in Simon Property Group during the 2nd quarter worth approximately $1,051,262,000. Finally, JPMorgan Chase & Co. increased its position in Simon Property Group by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Scotiabank raised their target price 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. UBS Group upped their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Evercore raised their price objective 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $197.93.

Simon Property Group Stock Up 0.6%

Shares of NYSE:SPG opened at $203.85 on Friday. The firm has a market cap of $66.55 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 6.69 and a beta of 1.39. The company has a fifty day simple moving average of $190.56 and a 200 day simple moving average of $183.99. 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, Inc. has a 12-month low of $136.34 and a 12-month high of $205.12.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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. 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 net margin of 72.71% and a return on equity of 124.12%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, 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 company also recently announced 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. This represents a $8.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 62.06%.

Simon Property Group declared that its board has initiated a share buyback plan on Thursday, February 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Gary M. Rodkin purchased 226 shares of the stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel bought 216 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the acquisition, the director directly owned 19,481 shares of the company’s stock, valued at $3,623,466. This trade represents a 1.12% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 2,192 shares of company stock worth $407,712. 8.66% of the stock is currently owned by insiders.

About Simon Property Group

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.