SteelPeak Wealth LLC Has $211,000 Stake in Simon Property Group, Inc. $SPG

SteelPeak Wealth LLC reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 87.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,130 shares of the real estate investment trust’s stock after selling 7,543 shares during the quarter. SteelPeak Wealth LLC’s holdings in Simon Property Group were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SPG. Brighton Jones LLC bought a new stake in Simon Property Group in the 4th quarter valued at $295,000. Marshall Wace LLP boosted its position in Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after purchasing an additional 15,033 shares during the period. Jump Financial LLC increased its holdings in shares of Simon Property Group by 80.1% in the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after purchasing an additional 7,506 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Simon Property Group by 1.7% in the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 598 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Simon Property Group by 13.4% in the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after purchasing an additional 3,372 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research reports. Barclays raised their target price 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. Morgan Stanley increased their price target on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. UBS Group increased their price target on shares of Simon Property Group from $199.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Wolfe Research cut Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Finally, Stifel Nicolaus upped their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $212.21.

Simon Property Group Stock Down 0.1%

SPG opened at $228.47 on Monday. Simon Property Group, Inc. has a fifty-two week low of $159.70 and a fifty-two week high of $231.53. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $74.09 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.95 and a beta of 1.29. The stock has a fifty day moving average of $213.40 and a 200-day moving average of $200.24.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $2.25 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is presently 62.54%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 243 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the transaction, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel C. Smith purchased 372 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $223.31 per share, with a total value of $83,071.32. Following the completion of the purchase, the director owned 34,480 shares of the company’s stock, valued at $7,699,728.80. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 2,387 shares of company stock worth $533,056. Insiders own 8.73% of the company’s stock.

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.