CORDA Investment Management LLC. Cuts Holdings in Simon Property Group, Inc. $SPG

CORDA Investment Management LLC. trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 198,216 shares of the real estate investment trust’s stock after selling 2,906 shares during the period. Simon Property Group comprises 2.7% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 15th biggest position. CORDA Investment Management LLC.’s holdings in Simon Property Group were worth $44,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth approximately $295,000. Marshall Wace LLP grew its holdings in shares of Simon Property Group by 316.2% in the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock valued at $3,181,000 after acquiring an additional 15,033 shares in the last quarter. Jump Financial LLC increased its position in shares of Simon Property Group by 80.1% during 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 acquiring an additional 7,506 shares during the last quarter. Cerity Partners LLC increased its position in shares of Simon Property Group by 1.7% during 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 acquiring an additional 598 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock worth $4,573,000 after acquiring an additional 3,372 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.0%

Shares of SPG opened at $219.34 on Friday. Simon Property Group, Inc. has a fifty-two week low of $171.22 and a fifty-two week high of $238.50. The business has a 50-day moving average of $222.30 and a 200 day moving average of $205.94. The firm has a market cap of $71.13 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 2.84 and a beta of 1.30. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.84 and a current ratio of 1.05.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.15). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. Simon Property Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 9th. Simon Property Group’s dividend payout ratio is presently 63.47%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Marta R. Stewart acquired 182 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.16 per share, with a total value of $40,615.12. Following the acquisition, the director owned 18,000 shares in the company, valued at approximately $4,016,880. This represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin acquired 256 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.34 per share, with a total value of $57,175.04. Following the completion of the purchase, 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 SEC filing for this purchase provides additional information. Insiders bought a total of 2,387 shares of company stock worth $533,056 in the last ninety days. Insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SPG shares. LADENBURG THALM/SH SH boosted their price objective on Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Truist Financial raised their target price on Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Finally, Scotiabank increased their price target on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.07.

Simon Property Group Company 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.