10,256 Simon Property Group, Inc. $SPG Shares Sold by Bokf Na

Key Points

• Bokf Na reduced its Simon Property Group stake by 10.4% in the third quarter, selling 10,256 shares and retaining 88,331 shares valued at approximately $17.7 million. Institutional investors collectively own 93.01% of SPG.
• Analysts maintain a generally cautious view, with SPG carrying a consensus rating of “Hold” and an average price target of $224.07. Recent target changes were mixed, including reductions from Barclays and Scotiabank and an increase from Citigroup.
• SPG shares opened at $211.06, while the company maintains a quarterly dividend of $2.25, equivalent to $9.00 annually and a 4.3% yield. Recent earnings missed EPS expectations, although revenue rose 19.5% year over year.

Bokf Na lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,331 shares of the real estate investment trust's stock after selling 10,256 shares during the period. Bokf Na's holdings in Simon Property Group were worth $17,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 purchasing an additional 3,578,240 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Simon Property Group in the 2nd quarter valued at about $783,974,000. Canada Pension Plan Investment Board bought a new stake in shares of Simon Property Group in the 2nd quarter valued at about $489,647,000. Caisse de depot et placement du Quebec purchased a new position in shares of Simon Property Group in the 2nd quarter worth approximately $143,948,000. Finally, Bank of America Corp DE grew its position in shares of Simon Property Group by 6.1% in the 1st 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 during the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPG shares. Weiss Ratings lowered shares of Simon Property Group from a "buy (a-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Barclays decreased their target price on shares of Simon Property Group from $215.00 to $208.00 and set an "equal weight" rating for the company in a research report on Monday, September 28th. Scotiabank lowered their target price on shares of Simon Property Group from $222.00 to $221.00 and set a "sector perform" rating for the company in a research note on Thursday, September 17th. Citigroup lifted their price target on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a "neutral" rating in a report on Monday, August 17th. Finally, Evercore set a $216.00 price target on Simon Property Group in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $224.07.

Insider Transactions at Simon Property Group

In related news, Director Gary M. Rodkin purchased 232 shares of Simon Property Group stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average cost of $202.78 per share, for a total transaction of $47,044.96. Following the completion of the transaction, the director owned 21,248 shares in the company, valued at $4,308,669.44. The trade was a 1.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Reuben S. Leibowitz purchased 480 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was bought at an average cost of $202.78 per share, with a total value of $97,334.40. Following the completion of the acquisition, the director directly owned 56,277 shares of the company's stock, valued at $11,411,850.06. This trade represents a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 1,668 shares of company stock valued at $338,237. 8.73% of the stock is owned by insiders.

Simon Property Group Stock Down 0.6%

SPG stock opened at $211.06 on Thursday. The company has a market capitalization of $68.29 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 3.26 and a beta of 1.30. Simon Property Group, Inc. has a 12 month low of $172.19 and a 12 month high of $238.50. The firm's fifty day simple moving average is $207.41 and its 200-day simple moving average is $205.40. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05.

Simon Property Group (NYSE:SPG - Get Free Report) 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 business had revenue of $1.79 billion for 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 company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 13.24 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were paid a $2.25 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.3%. Simon Property Group's dividend payout ratio is presently 63.47%.

Simon Property Group 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.

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