Sumitomo Life Insurance Co. Makes New $894,000 Investment in Simon Property Group, Inc. $SPG

Sumitomo Life Insurance Co. bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,997 shares of the real estate investment trust’s stock, valued at approximately $894,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Simon Property Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock worth $8,694,610,000 after purchasing an additional 286,464 shares during the last quarter. BlackRock Inc. grew its position in Simon Property Group by 1.2% during the 2nd 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. State Street Corp boosted its stake in Simon Property Group by 1.5% during 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 purchasing an additional 312,995 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Simon Property Group by 3.6% during the fourth 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 buying an additional 363,337 shares during the last quarter. Finally, Capital World Investors lifted its stake in Simon Property Group by 2.7% during the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock valued at $1,593,872,000 after acquiring an additional 226,271 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In other news, Director Daniel C. Smith acquired 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.31 per share, with a total value of $83,071.32. Following the completion of the purchase, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glyn Aeppel bought 243 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 21,067 shares of the company’s stock, valued at $4,705,525.12. This represents a 1.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,387 shares of company stock worth $533,056 in the last quarter. 8.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. LADENBURG THALM/SH SH lifted their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Evercore set a $215.00 price objective on shares of Simon Property Group in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price 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. Piper Sandler lifted their target price on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Barclays lifted their target price on shares of Simon Property Group from $213.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Two investment analysts have 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $223.00.

Simon Property Group Price Performance

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

Simon Property Group (NYSE:SPG) last announced its 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). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities research analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group Announces Dividend

The business 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 dividend of $2.25 per share. 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 payout ratio is currently 63.47%.

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.