Fairtree Asset Management Pty Ltd Acquires New Shares in Simon Property Group, Inc. $SPG

Fairtree Asset Management Pty Ltd acquired a new position in Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,134 shares of the real estate investment trust’s stock, valued at approximately $925,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Simon Property Group during the fourth quarter worth $1,112,111,000. Wellington Management Group LLP lifted its stake in shares of 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 last quarter. Bank of America Corp DE boosted its position in Simon Property Group by 6.1% during the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after purchasing an additional 491,519 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in Simon Property Group during the second quarter valued at about $104,281,000. Finally, BlackRock Inc. grew its stake in Simon Property Group by 1.2% in the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock valued at $8,335,255,000 after purchasing an additional 455,543 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Larry C. Glasscock acquired 397 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This represents a 0.87% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel acquired 243 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $223.36 per share, with a total value of $54,276.48. Following the acquisition, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. This trade represents a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,387 shares of company stock valued at $533,056 in the last 90 days. 8.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler boosted their target price on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Barclays raised their price target on shares of Simon Property Group from $213.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Citigroup boosted their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Truist Financial raised their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus target price of $223.00.

Simon Property Group Trading Down 1.3%

Shares of Simon Property Group stock opened at $220.33 on Friday. The firm’s 50 day simple moving average is $223.07 and its two-hundred day simple moving average is $207.05. The firm has a market capitalization of $71.29 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 2.78 and a beta of 1.30. Simon Property Group, Inc. has a 12-month low of $172.19 and a 12-month high of $238.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $1.70 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts predict 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. Shareholders of record on Wednesday, September 9th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group’s dividend payout ratio is presently 63.47%.

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.