22,686 Shares in Simon Property Group, Inc. $SPG Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp. acquired 22,686 Simon Property Group shares in the second quarter, valued at approximately $5.1 million. Institutional investors collectively own 93.01% of SPG, while insiders purchased 2,387 shares during the last quarter.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $223.00. Recent targets range from $215 to $285, while Wolfe Research downgraded the stock to “peer perform.”
• Simon Property Group reported quarterly revenue of $1.79 billion, up 19.5% year over year, though EPS of $1.49 missed estimates. The company declared a quarterly dividend of $2.25 per share, equivalent to a 4.1% annualized yield.

OMERS ADMINISTRATION Corp acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,686 shares of the real estate investment trust's stock, valued at approximately $5,074,000.

Other hedge funds have also added to or reduced their stakes in the company. Danske Bank A S increased 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 raised its stake 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 in the last quarter. Nomura Asset Management Co. Ltd. raised its stake 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Simon Property Group by 1,329.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust's stock worth $86,723,000 after buying an additional 435,721 shares during the period. Finally, L & S Advisors Inc purchased a new stake in Simon Property Group during the fourth quarter worth $4,058,000. 93.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Glyn Aeppel bought 243 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of $223.36 per share, with a total value of $54,276.48. Following the transaction, the director directly owned 21,067 shares in the company, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel C. Smith bought 372 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $223.31 per share, with a total value of $83,071.32. Following the purchase, the director directly owned 34,480 shares in the company, valued at $7,699,728.80. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on SPG shares. Wolfe Research cut Simon Property Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, June 30th. Piper Sandler upped their price objective on Simon Property Group from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Bank of America raised their price objective on Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Truist Financial lifted their target price on Simon Property Group from $196.00 to $215.00 and gave the company a "hold" rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. boosted 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. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $223.00.

Simon Property Group Stock Up 1.1%

Shares of SPG stock opened at $220.66 on Tuesday. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year high of $238.50. The stock's fifty day moving average price is $223.18 and its 200 day moving average price is $207.46. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $71.40 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.72 and a beta of 1.30.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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 issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. Simon Property Group's dividend payout ratio (DPR) is currently 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.

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