Y Intercept Hong Kong Ltd Acquires 26,433 Shares of Simon Property Group, Inc. $SPG

Y Intercept Hong Kong Ltd grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 134.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,075 shares of the real estate investment trust’s stock after purchasing an additional 26,433 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Simon Property Group were worth $8,594,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Clark Capital Management Group Inc. raised its holdings in Simon Property Group by 1.7% during the third quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock worth $46,361,000 after acquiring an additional 4,177 shares in the last quarter. Union Bancaire Privee UBP SA increased its position in shares of Simon Property Group by 22.6% during the 4th quarter. Union Bancaire Privee UBP SA now owns 39,366 shares of the real estate investment trust’s stock worth $7,287,000 after purchasing an additional 7,266 shares during the last quarter. Davis Selected Advisers increased its position in shares of Simon Property Group by 30.7% during the 3rd quarter. Davis Selected Advisers now owns 76,733 shares of the real estate investment trust’s stock worth $14,400,000 after purchasing an additional 18,010 shares during the last quarter. Danske Bank A S increased its position in shares of Simon Property Group by 11.1% during the 4th quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust’s stock worth $35,901,000 after purchasing an additional 19,300 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Simon Property Group by 3.5% during the 3rd quarter. California Public Employees Retirement System now owns 579,458 shares of the real estate investment trust’s stock worth $108,747,000 after purchasing an additional 19,608 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 508 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, with a total value of $113,477.04. Following the acquisition, the director owned 55,797 shares of the company’s stock, valued at approximately $12,463,933.86. This represents a 0.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel C. Smith purchased 372 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $223.31 per share, for a total transaction of $83,071.32. Following the purchase, the director owned 34,480 shares in the company, valued at $7,699,728.80. The trade was a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. UBS Group set a $220.00 price objective on Simon Property Group in a report on Thursday, June 18th. Bank of America upped their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Evercore set a $208.00 price target on shares of Simon Property Group in a research note on Monday, June 8th. Jefferies Financial Group raised shares of Simon Property Group to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Barclays boosted their price objective on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $211.47.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $225.77 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a market capitalization of $73.21 billion, a P/E ratio of 15.69, a P/E/G ratio of 4.09 and a beta of 1.29. Simon Property Group, Inc. has a 12 month low of $159.33 and a 12 month high of $228.57. The stock has a 50 day moving average of $209.31 and a 200-day moving average of $197.56.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the business earned $2.95 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a $2.25 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. Simon Property Group’s payout ratio is currently 62.54%.

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.