Simon Property Group, Inc. $SPG Shares Sold by Modern Wealth Management LLC

Modern Wealth Management LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 38.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,597 shares of the real estate investment trust’s stock after selling 12,019 shares during the quarter. Modern Wealth Management LLC’s holdings in Simon Property Group were worth $3,678,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. VSM Wealth Advisory LLC purchased a new stake in Simon Property Group in the 2nd quarter valued at about $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Simon Property Group during the second quarter valued at about $30,000. Bell Investment Advisors Inc raised its stake in shares of Simon Property Group by 205.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $39,000. Finally, Atlantic Union Bankshares Corp boosted its position in shares of Simon Property Group by 143.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 123 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 3.1%

NYSE:SPG opened at $194.72 on Friday. The firm has a market cap of $63.57 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 6.42 and a beta of 1.36. The stock has a fifty day moving average price of $191.88 and a 200 day moving average price of $185.06. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $205.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42.

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

Simon Property Group declared that its board has approved a share repurchase plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Simon Property Group Announces Dividend

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

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock acquired 363 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, with a total value of $67,518.00. Following the transaction, the director owned 43,899 shares in the company, valued at approximately $8,165,214. This trade represents a 0.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary M. Rodkin acquired 226 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $42,036.00. Following the completion of 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 acquired a total of 2,192 shares of company stock worth $407,712 over the last ninety days. 8.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPG. Citigroup boosted their target price on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Truist Financial lifted their price objective on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Tuesday, January 20th. JPMorgan Chase & Co. raised their target price on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $199.36.

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.