Simon Property Group, Inc. $SPG Shares Sold by Hamlin Capital Management LLC

Hamlin Capital Management LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 866,580 shares of the real estate investment trust’s stock after selling 31,406 shares during the quarter. Simon Property Group accounts for approximately 4.4% of Hamlin Capital Management LLC’s portfolio, making the stock its 5th largest holding. Hamlin Capital Management LLC owned about 0.27% of Simon Property Group worth $193,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Simon Property Group in the 4th quarter valued at approximately $1,112,111,000. Wellington Management Group LLP increased its position in Simon Property Group by 7.7% during the 4th 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. Bank of America Corp DE raised its stake in shares of Simon Property Group by 6.1% during the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after buying an additional 491,519 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Simon Property Group by 1,329.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock worth $86,723,000 after buying an additional 435,721 shares in the last quarter. Finally, Bbfit Investments PTE Ltd. acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $80,060,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock opened at $224.88 on Thursday. The firm has a 50 day moving average of $220.15 and a 200-day moving average of $204.32. The company has a market cap of $72.93 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.92 and a beta of 1.30. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 12-month low of $163.29 and a 12-month high of $238.50.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping 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 firm posted $2.95 EPS. The company’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. As a group, equities analysts expect that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPG shares. Evercore set a $215.00 price target on Simon Property Group in a research note on Tuesday, July 7th. Barclays increased their price objective on Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Citigroup raised their target price on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley upped their price target on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $216.14.

Insider Buying and Selling

In other news, Director Gary M. Rodkin purchased 256 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the transaction, the director directly owned 21,016 shares in the company, valued at $4,693,713.44. This represents a 1.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Glyn Aeppel purchased 243 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $223.36 per share, with a total value of $54,276.48. Following the purchase, the director directly owned 21,067 shares in the company, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,387 shares of company stock valued at $533,056 in the last three months. 8.73% of the stock is owned by insiders.

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.