Duff & Phelps Investment Management Co. Has $153.50 Million Holdings in Simon Property Group, Inc. $SPG

Duff & Phelps Investment Management Co. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 817,943 shares of the real estate investment trust’s stock after selling 41,650 shares during the period. Simon Property Group accounts for 1.7% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 12th biggest holding. Duff & Phelps Investment Management Co. owned approximately 0.25% of Simon Property Group worth $153,503,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Simon Property Group during the second quarter worth $1,051,262,000. Capital World Investors boosted its holdings in Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock valued at $1,573,450,000 after purchasing an additional 2,600,508 shares during the period. JPMorgan Chase & Co. grew its position in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares during the last quarter. Vanguard Group Inc. grew its position in Simon Property Group by 1.8% in 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 purchasing an additional 844,190 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Simon Property Group by 78.9% during the 3rd quarter. Barclays PLC now owns 1,103,843 shares of the real estate investment trust’s stock worth $207,158,000 after purchasing an additional 486,967 shares during the period. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Truist Financial boosted their price target 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. Mizuho set a $192.00 price target on Simon Property Group in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $205.00 price objective on Simon Property Group in a report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $199.36.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $189.47 on Thursday. The firm has a market cap of $61.57 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 6.33 and a beta of 1.36. The firm’s 50-day simple moving average is $192.17 and its 200-day simple moving average is $185.41. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $205.12. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90.

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

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $2.20 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.6%. Simon Property Group’s dividend payout ratio is presently 62.06%.

Simon Property Group announced that its board has authorized a stock buyback program on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock purchased 363 shares of the stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the transaction, the director directly owned 43,899 shares of the company’s stock, valued at approximately $8,165,214. The trade was a 0.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin acquired 226 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, with a total value of $42,036.00. Following the completion of the purchase, the director directly owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,192 shares of company stock worth $407,712 over the last three months. 8.66% of the stock is currently owned by insiders.

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.