PCM Encore LLC Makes New Investment in Simon Property Group, Inc. $SPG

PCM Encore LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,500 shares of the real estate investment trust’s stock, valued at approximately $783,000.

A number of other hedge funds also recently modified their holdings of SPG. Norges Bank acquired a new stake in shares of Simon Property Group in the fourth quarter worth $1,112,111,000. Wellington Management Group LLP raised its position in Simon Property Group by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after buying an additional 569,772 shares during the period. Bank of America Corp DE raised its position in Simon Property Group by 6.1% during the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after buying an additional 491,519 shares during the period. Cardano Risk Management B.V. purchased a new stake in Simon Property Group in the 2nd quarter worth about $104,281,000. Finally, BlackRock Inc. lifted its stake in Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after acquiring an additional 455,543 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial raised their price objective on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Morgan Stanley upped their target price on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price target for the company. in a research report on Thursday, July 9th. Scotiabank raised their price target on shares of Simon Property Group from $220.00 to $222.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Bank of America boosted their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $223.00.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $220.33 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. The business has a fifty day simple moving average of $223.07 and a 200 day simple moving average of $207.05. The firm has a market cap of $71.29 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 2.78 and a beta of 1.30.

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

Simon Property Group Dividend Announcement

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

Insider Buying and Selling at Simon Property Group

In other news, Director Larry C. Glasscock purchased 397 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, with a total value of $88,681.86. Following the purchase, the director owned 45,902 shares in the company, valued at $10,253,588.76. This represents a 0.87% 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 256 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the acquisition, the director directly owned 21,016 shares of the company’s stock, valued at $4,693,713.44. The trade was a 1.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,387 shares of company stock worth $533,056 over the last quarter. Insiders own 8.73% of the company’s stock.

Simon Property Group 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.