Prana Capital Management LP Sells 95,368 Shares of Simon Property Group, Inc. $SPG

Prana Capital Management LP cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 42.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,033 shares of the real estate investment trust’s stock after selling 95,368 shares during the period. Prana Capital Management LP’s holdings in Simon Property Group were worth $24,403,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $1,051,262,000. Wellington Management Group LLP grew its position in Simon Property Group by 634.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after acquiring an additional 6,366,711 shares during the last quarter. Capital World Investors increased 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 worth $1,573,450,000 after purchasing an additional 2,600,508 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $1,046,943,000 after purchasing an additional 1,660,188 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Simon Property Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock valued at $8,761,093,000 after purchasing an additional 844,190 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 0.7%

NYSE SPG opened at $190.63 on Wednesday. The business’s 50-day moving average price is $192.47 and its two-hundred day moving average price is $185.74. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $205.12. The firm has a market capitalization of $61.94 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 6.24 and a beta of 1.36. 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, beating the consensus estimate 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $3.68 earnings per share. The business’s quarterly revenue 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, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

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

Simon Property Group announced that its Board of Directors has approved a share buyback plan on Thursday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPG. Barclays boosted their price target on Simon Property Group from $188.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Citigroup lifted their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. 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 report on Thursday, January 8th. Finally, Evercore upped their price target on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a research report on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $199.36.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 480 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, with a total value of $89,280.00. Following the purchase, the director owned 53,639 shares in the company, valued at $9,976,854. This trade represents a 0.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Larry C. Glasscock acquired 363 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, with a total value of $67,518.00. Following the completion of the transaction, the director owned 43,899 shares of the company’s stock, valued at $8,165,214. This trade represents a 0.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 2,192 shares of company stock worth $407,712. 8.60% of the stock is 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.