Korea Investment CORP Takes $30.34 Million Position in Simon Property Group, Inc. $SPG

Korea Investment CORP purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 135,636 shares of the real estate investment trust’s stock, valued at approximately $30,335,000.

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

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 508 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, with a total value of $113,477.04. Following the completion of the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glyn Aeppel purchased 243 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.36 per share, with a total value of $54,276.48. Following the completion of 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 position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,387 shares of company stock valued at $533,056 over the last three months. 8.73% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $218.52 on Friday. The stock has a market capitalization of $70.70 billion, a PE ratio of 15.41, a PEG ratio of 2.72 and a beta of 1.30. The business’s 50 day simple moving average is $223.06 and its 200 day simple moving average is $207.13. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. Simon Property Group, Inc. has a one year low of $172.19 and a one year high of $238.50.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.61 billion. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS. 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 earnings per share for the current year.

Simon Property Group Dividend Announcement

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

Wall Street Analyst Weigh In

SPG has been the subject of several analyst reports. Bank of America raised their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, June 29th. 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, August 17th. Wolfe Research downgraded Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Finally, Piper Sandler raised their target price on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $223.00.

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.