127,350 Shares in Simon Property Group, Inc. $SPG Purchased by Cibc World Market Inc.

Cibc World Market Inc. bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the second quarter, Holdings Channel reports. The firm bought 127,350 shares of the real estate investment trust’s stock, valued at approximately $28,482,000.

Other institutional investors also recently bought and sold shares of the company. Osbon Capital Management LLC purchased a new stake in Simon Property Group during the second quarter worth about $32,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Simon Property Group in the second quarter valued at approximately $5,074,000. Osmosis Investment Management UK Ltd purchased a new position in shares of Simon Property Group in the second quarter valued at approximately $263,000. Sanctuary Advisors LLC acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $7,774,000. Finally, Biondo Investment Advisors LLC acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $15,668,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPG shares. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Barclays upped their price objective on Simon Property Group from $213.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. UBS Group increased their price objective on Simon Property Group from $199.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Scotiabank boosted their target price on Simon Property Group from $220.00 to $222.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Evercore set a $215.00 price target on Simon Property Group in a report on Tuesday, July 7th. Two research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $223.00.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock bought 397 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of $223.38 per share, with a total value of $88,681.86. Following the transaction, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This represents a 0.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marta R. Stewart purchased 182 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $223.16 per share, for a total transaction of $40,615.12. Following the completion of the purchase, the director directly owned 18,000 shares in the company, valued at $4,016,880. This represents a 1.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 2,387 shares of company stock worth $533,056. 8.73% of the stock is owned by insiders.

Simon Property Group Trading Up 0.1%

NYSE:SPG opened at $218.52 on Monday. The stock has a 50-day simple moving average of $223.06 and a 200-day simple moving average of $207.24. The stock has a market cap of $70.70 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.72 and a beta of 1.30. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. 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 (NYSE:SPG) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 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 business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company posted $1.70 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

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

Simon Property Group Company 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.