Clough Capital Partners L P Cuts Stock Holdings in Simon Property Group, Inc. $SPG

Clough Capital Partners L P reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 64.7% during the 3rd quarter, Holdings Channel reports. The fund owned 4,800 shares of the real estate investment trust’s stock after selling 8,800 shares during the quarter. Clough Capital Partners L P’s holdings in Simon Property Group were worth $901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Federated Hermes Inc. raised its position in Simon Property Group by 68.8% in the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after purchasing an additional 50,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Simon Property Group by 15.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock worth $12,521,000 after buying an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $3,598,000. National Pension Service increased its stake in shares of Simon Property Group by 3.2% during the third quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after buying an additional 33,758 shares during the period. Finally, Aew Capital Management L P raised its holdings in Simon Property Group by 90.9% in the third quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock valued at $99,494,000 after acquiring an additional 252,510 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPG. Mizuho set a $192.00 price target on shares of Simon Property Group in a research note on Friday, January 9th. Stifel Nicolaus raised their price objective on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, February 3rd. Evercore lifted their price objective on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 3rd. UBS Group boosted their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Finally, Citigroup increased their target price on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $199.36.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director directly owned 53,639 shares in the company, valued at approximately $9,976,854. This trade represents a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary M. Rodkin acquired 226 shares of the stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the completion of the transaction, the director directly owned 19,455 shares in the company, valued at $3,618,630. The trade was a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 2,192 shares of company stock worth $407,712 over the last 90 days. Company insiders own 8.66% of the company’s stock.

Simon Property Group Trading Down 0.4%

NYSE:SPG opened at $186.78 on Friday. The company has a market capitalization of $60.69 billion, a PE ratio of 13.17, a P/E/G ratio of 6.16 and a beta of 1.36. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $205.12. The stock’s 50 day moving average price is $192.26 and its 200 day moving average price is $185.56. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 4.42.

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

Simon Property Group Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, March 10th. This represents a $8.80 annualized dividend and a yield of 4.7%. Simon Property Group’s dividend payout ratio is 62.06%.

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

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.