Hudson Bay Capital Management LP Decreases Holdings in Simon Property Group, Inc. $SPG

Hudson Bay Capital Management LP lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 60.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the real estate investment trust’s stock after selling 60,443 shares during the period. Hudson Bay Capital Management LP’s holdings in Simon Property Group were worth $7,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPG. Colonial Trust Co SC raised its holdings in Simon Property Group by 25.7% during the third quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 65 shares during the last quarter. Howard Capital Management Inc. grew its holdings in Simon Property Group by 3.1% in the third quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 66 shares during the last quarter. TIAA Trust National Association increased its position in shares of Simon Property Group by 3.9% in the third quarter. TIAA Trust National Association now owns 1,774 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 67 shares in the last quarter. SageView Advisory Group LLC increased its position in shares of 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 buying an additional 71 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Simon Property Group by 0.3% during the 3rd quarter. Allworth Financial LP now owns 21,066 shares of the real estate investment trust’s stock worth $3,953,000 after buying an additional 72 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Simon Property Group news, Director Stefan M. Selig purchased 201 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, with a total value of $37,386.00. Following the purchase, the director directly owned 32,277 shares in the company, valued at $6,003,522. This trade represents a 0.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glyn Aeppel acquired 216 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the acquisition, the director directly owned 19,481 shares of the company’s stock, 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 acquired 2,192 shares of company stock valued at $407,712 in the last 90 days. Insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SPG. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. UBS Group upped their price target 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. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Tuesday, January 20th. Finally, Truist Financial lifted their price objective on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $199.36.

Simon Property Group Trading Down 3.6%

Shares of SPG stock opened at $184.49 on Friday. The firm has a 50-day moving average price of $192.72 and a 200 day moving average price of $185.84. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $205.12. The company has a market capitalization of $59.95 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 6.30 and a beta of 1.36. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the company earned $3.68 EPS. 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 earnings per share for the current fiscal year.

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

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $2.20 per share. The ex-dividend date is Tuesday, March 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is 62.06%.

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.