4,216 Shares in Simon Property Group, Inc. $SPG Bought by Independent Financial Group LLC

Independent Financial Group LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,216 shares of the real estate investment trust’s stock, valued at approximately $787,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after buying an additional 286,464 shares during the last quarter. State Street Corp increased its holdings in shares of Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after acquiring an additional 312,995 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Simon Property Group by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after acquiring an additional 363,337 shares in the last quarter. Capital World Investors lifted its stake in Simon Property Group by 2.7% during the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after purchasing an additional 226,271 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Simon Property Group by 7.7% in the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock worth $1,469,748,000 after purchasing an additional 569,772 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.6%

Shares of NYSE:SPG opened at $226.72 on Wednesday. The company has a 50 day moving average of $214.37 and a 200-day moving average of $200.83. 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 firm has a market cap of $73.52 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.95 and a beta of 1.29. Simon Property Group, Inc. has a twelve month low of $159.70 and a twelve month high of $231.52.

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

Simon Property Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPG. Wolfe Research cut shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Jefferies Financial Group upgraded shares of Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. Finally, Truist Financial upped their price objective on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $216.14.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 508 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost 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 $12,463,933.86. The trade was a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel C. Smith acquired 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.31 per share, with a total value of $83,071.32. Following the transaction, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. This represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company’s stock.

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.