Simon Property Group, Inc. $SPG Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 10.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,615 shares of the real estate investment trust’s stock after selling 10,631 shares during the quarter. Empowered Funds LLC’s holdings in Simon Property Group were worth $19,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ancora Advisors LLC bought a new stake in shares of Simon Property Group during the 2nd quarter worth about $27,000. Stance Capital LLC bought a new position in Simon Property Group during the third quarter valued at about $26,000. Osbon Capital Management LLC bought a new position in Simon Property Group during the second quarter valued at about $32,000. Fiduciary Financial Advisors acquired a new position in Simon Property Group during the second quarter worth about $34,000. Finally, Wilkerson Advisory Group LLC acquired a new position in Simon Property Group during the fourth quarter worth about $29,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 1.0%

Simon Property Group stock opened at $214.84 on Friday. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $69.51 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 2.70 and a beta of 1.30. The company has a 50 day moving average price of $223.46 and a 200 day moving average price of $207.87.

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 firm had revenue of $1.79 billion for the quarter, compared to analyst estimates 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 firm earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. 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. Stockholders of record on Wednesday, September 9th will be issued a dividend of $2.25 per share. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.2%. Simon Property Group’s payout ratio is currently 63.47%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SPG. Scotiabank upped their price target on shares of Simon Property Group from $220.00 to $222.00 and gave the company a “sector perform” rating in a report on Thursday, August 20th. Jefferies Financial Group upgraded shares of Simon Property Group to a “strong-buy” rating in a report on Friday, June 26th. Mizuho increased their target price on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings upgraded shares of Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus lifted their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $225.27.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin acquired 256 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.34 per share, with a total value of $57,175.04. Following the purchase, the director owned 21,016 shares in the company, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reuben S. Leibowitz acquired 508 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of $223.38 per share, with a total value of $113,477.04. Following the completion of the purchase, the director owned 55,797 shares in the company, valued at approximately $12,463,933.86. This represents a 0.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,387 shares of company stock valued at $533,056 in the last ninety days. Corporate insiders own 8.73% of the company’s stock.

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.