Legacy Financial Advisors Inc. Invests $527,000 in Simon Property Group, Inc. $SPG

Legacy Financial Advisors Inc. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,807 shares of the real estate investment trust’s stock, valued at approximately $527,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Simon Property Group by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after buying an additional 844,190 shares in the last quarter. State Street Corp increased its position in Simon Property Group by 1.1% in the 2nd 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 buying an additional 228,819 shares in the last quarter. Geode Capital Management LLC increased its position in Simon Property Group by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. Norges Bank acquired a new position in Simon Property Group during the 2nd quarter worth approximately $1,051,262,000. Finally, JPMorgan Chase & Co. boosted its holdings in 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 worth $1,046,943,000 after acquiring an additional 1,660,188 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $200.14 on Tuesday. The company has a market capitalization of $65.34 billion, a PE ratio of 14.11, a PEG ratio of 6.65 and a beta of 1.39. The company has a quick ratio of 1.44, a current ratio of 0.90 and a debt-to-equity ratio of 4.42. The stock’s 50 day moving average price is $189.15 and its 200-day moving average price is $183.23. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $203.60.

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

Simon Property Group announced that its board has initiated a share buyback program on Thursday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, March 10th. Simon Property Group’s payout ratio is presently 62.06%.

Insider Buying and Selling

In related news, Director Gary M. Rodkin purchased 226 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $42,036.00. Following the completion of the transaction, the director owned 19,455 shares in the company, valued at $3,618,630. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Smith acquired 347 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, with a total value of $64,542.00. Following the acquisition, the director directly owned 32,680 shares of the company’s stock, valued at $6,078,480. The trade was a 1.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,192 shares of company stock worth $407,712 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. Evercore boosted their price objective on Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lifted 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. Scotiabank upped their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Citigroup raised their price objective on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus target price of $197.93.

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.