ABN Amro Investment Solutions Buys Shares of 12,553 Simon Property Group, Inc. $SPG

Key Points

• ABN Amro Investment Solutions opened a new position in Simon Property Group, buying 12,553 shares worth about $2.34 million in the first quarter.
• Several other institutional investors also adjusted their stakes, and hedge funds now own 93.01% of the company’s shares. Recent insider buying included directors Larry C. Glasscock and Glyn Aeppel.
• Simon Property Group posted better-than-expected quarterly results, raised its dividend to $2.25 per share, and analysts currently rate the stock a Hold on average with a $216.14 price target.

ABN Amro Investment Solutions purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,553 shares of the real estate investment trust's stock, valued at approximately $2,342,000.

Several other hedge funds have also made changes to their positions in SPG. Danske Bank A S increased its holdings in Simon Property Group by 11.1% in the 4th quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust's stock worth $35,901,000 after acquiring an additional 19,300 shares during the last quarter. Legal & General Group Plc lifted its holdings in Simon Property Group by 3.3% during the fourth quarter. Legal & General Group Plc now owns 3,783,976 shares of the real estate investment trust's stock valued at $700,452,000 after purchasing an additional 122,186 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 purchasing an additional 435,721 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Simon Property Group by 3.5% during 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 purchasing an additional 20,477 shares during the period. Finally, Norges Bank purchased a new position in shares of Simon Property Group in the fourth quarter worth about $1,112,111,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Activity

In other Simon Property Group news, Director Larry C. Glasscock purchased 397 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director directly owned 45,902 shares in the company, valued at $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glyn Aeppel purchased 243 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.36 per share, with a total value of $54,276.48. Following the completion of the purchase, the director owned 21,067 shares in the company, valued at $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. Truist Financial increased their target price 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. Bank of America raised their price target on Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a report on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a research report on Monday, June 1st. Finally, Wolfe Research lowered Simon Property Group from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average price target of $216.14.

Simon Property Group Stock Performance

NYSE SPG opened at $225.06 on Friday. Simon Property Group, Inc. has a 52-week low of $159.70 and a 52-week high of $231.52. The company has a fifty day moving average of $215.33 and a 200-day moving average of $201.40. The company has a market capitalization of $72.99 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.92 and a beta of 1.29. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the business posted $2.95 earnings per share. The company's revenue for the quarter was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a $2.25 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 62.54%.

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.

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