Sumitomo Mitsui Trust Group Inc. Sells 50,879 Shares of Simon Property Group, Inc. $SPG

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,407,014 shares of the real estate investment trust’s stock after selling 50,879 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Simon Property Group were worth $282,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Simon Property Group by 1.2% during the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock valued at $8,335,255,000 after purchasing an additional 455,543 shares in the last quarter. Wellington Management Group LLP raised its stake in Simon Property Group by 2.7% in the second quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust’s stock worth $2,100,146,000 after buying an additional 242,709 shares in the last quarter. Bank of America Corp DE raised its stake in Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after buying an additional 491,519 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Simon Property Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust’s stock worth $859,209,000 after buying an additional 105,524 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Simon Property Group by 13,579.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust’s stock worth $806,167,000 after buying an additional 3,578,240 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Marta R. Stewart bought 199 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were acquired at an average cost of $202.78 per share, for a total transaction of $40,353.22. Following the purchase, the director owned 18,199 shares in the company, valued at approximately $3,690,393.22. This trade represents a 1.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith bought 350 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were acquired at an average price of $202.78 per share, for a total transaction of $70,973.00. Following the completion of the purchase, the director owned 34,830 shares in the company, valued at approximately $7,062,827.40. The trade was a 1.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 1,668 shares of company stock valued at $338,237 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Simon Property Group Stock Up 1.0%

NYSE:SPG opened at $217.84 on Friday. The firm has a market cap of $70.48 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.35 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 fifty-two week low of $172.19 and a fifty-two week high of $238.50. The firm has a 50-day simple moving average of $207.21 and a two-hundred day simple moving average of $205.73.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.15). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts predict that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. Simon Property Group’s dividend payout ratio (DPR) is 63.47%.

Wall Street Analyst Weigh In

SPG has been the subject of several research analyst reports. Piper Sandler cut their price objective on Simon Property Group from $285.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Weiss Ratings downgraded Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a report on Thursday, July 9th. UBS Group decreased their target price on Simon Property Group from $222.00 to $205.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Finally, Mizuho raised their target price on Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $224.07.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops, and operates premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve both local shoppers and visitors.

The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.