Wealthfront Advisers LLC Boosts Holdings in Simon Property Group, Inc. $SPG

Wealthfront Advisers LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,003 shares of the real estate investment trust’s stock after acquiring an additional 7,091 shares during the period. Wealthfront Advisers LLC’s holdings in Simon Property Group were worth $13,700,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock worth $7,369,128,000 after purchasing an additional 149,314 shares during the last quarter. State Street Corp grew its holdings in Simon Property Group by 1.1% during the second quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after purchasing an additional 228,819 shares during the period. Geode Capital Management LLC increased its position in Simon Property Group by 1.3% in the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after buying an additional 127,636 shares during the last quarter. Norges Bank bought a new stake in shares of Simon Property Group in the second quarter valued at $1,051,262,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after buying an additional 1,660,188 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel purchased 216 shares of the stock in a transaction on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, with a total value of $40,176.00. Following the acquisition, the director directly owned 19,481 shares in the company, valued at approximately $3,623,466. The trade was a 1.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 226 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $42,036.00. Following the transaction, the director owned 19,455 shares in the company, valued at approximately $3,618,630. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,192 shares of company stock valued at $407,712 in the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of several research reports. Barclays reiterated a “positive” rating and set a $188.00 price target on shares of Simon Property Group in a research note on Tuesday, January 13th. Mizuho set a $192.00 price objective on shares of Simon Property Group in a report on Friday, January 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Stifel Nicolaus upped their price target on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $197.93.

Simon Property Group Trading Down 0.1%

Shares of Simon Property Group stock opened at $196.36 on Wednesday. The company’s 50-day moving average price is $186.26 and its 200-day moving average price is $181.17. The company has a current ratio of 0.90, a quick ratio of 1.44 and a debt-to-equity ratio of 4.42. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $201.40. The company has a market cap of $64.11 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 7.22 and a beta of 1.39.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $3.68 earnings per share. Simon Property Group’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 62.06%.

Simon Property Group 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.