Simon Property Group, Inc. $SPG Position Increased by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 85,468 shares of the real estate investment trust’s stock after purchasing an additional 9,481 shares during the period. Wealthfront Advisers LLC’s holdings in Simon Property Group were worth $19,115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SPG. Danske Bank A S boosted its position in Simon Property Group by 11.1% during the 4th quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust’s stock valued at $35,901,000 after purchasing an additional 19,300 shares during the period. Legal & General Group Plc increased its position in Simon Property Group by 3.3% in the fourth quarter. Legal & General Group Plc now owns 3,783,976 shares of the real estate investment trust’s stock worth $700,452,000 after buying an additional 122,186 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Simon Property Group by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 604,773 shares of the real estate investment trust’s stock worth $111,950,000 after buying an additional 20,477 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Simon Property Group by 1,329.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock valued at $86,723,000 after buying an additional 435,721 shares during the last quarter. Finally, L & S Advisors Inc bought a new stake in Simon Property Group in the fourth quarter valued at $4,058,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.3%

NYSE:SPG opened at $221.07 on Wednesday. The stock has a market cap of $71.53 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.74 and a beta of 1.30. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. Simon Property Group, Inc. has a 1 year low of $172.09 and a 1 year high of $238.50. The business has a fifty day moving average of $222.76 and a 200-day moving average of $206.61.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. Simon Property Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 9th. Simon Property Group’s payout ratio is 63.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SPG shares. JPMorgan Chase & Co. upped their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a research report on Monday, June 1st. UBS Group lifted their price objective on shares of Simon Property Group from $199.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price for the company. in a research note on Thursday, July 9th. Bank of America raised their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, Truist Financial lifted their price target on Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $222.87.

Insider Activity at Simon Property Group

In related news, Director Larry C. Glasscock acquired 397 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the acquisition, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Glyn Aeppel acquired 243 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $223.36 per share, for a total transaction of $54,276.48. Following the purchase, the director directly owned 21,067 shares of the company’s stock, valued at approximately $4,705,525.12. This trade represents a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,387 shares of company stock worth $533,056 in the last three months. Insiders own 8.73% of the company’s stock.

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.