Allworth Financial LP Takes Position in Simon Property Group, Inc. $SPG

Key Points

• Allworth Financial LP acquired 18,256 shares of Simon Property Group worth approximately $4.08 million, while institutional investors collectively own 93.01% of the REIT.
• Analyst sentiment remains mixed: Simon has an average rating of “Hold” and a consensus price target of $223, with recent targets ranging from $215 to $275.
• SPG reported quarterly EPS of $1.49, below the $1.64 consensus, although revenue rose 19.5% year over year to $1.79 billion. The company declared a $2.25 quarterly dividend, representing a 4.1% annualized yield.

Allworth Financial LP bought a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,256 shares of the real estate investment trust's stock, valued at approximately $4,083,000.

Other large investors have also added to or reduced their stakes in the company. PFG Investments LLC lifted its holdings in shares of Simon Property Group by 2.2% during the 1st quarter. PFG Investments LLC now owns 2,341 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 50 shares during the period. WPG Advisers LLC grew its position in Simon Property Group by 40.3% during the second quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 52 shares during the period. Great Valley Advisor Group Inc. increased its holdings in Simon Property Group by 2.3% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 52 shares during the last quarter. Veridan Wealth LLC raised its position in Simon Property Group by 1.2% in the fourth quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust's stock worth $845,000 after acquiring an additional 53 shares during the period. Finally, CYBER HORNET ETFs LLC raised its position in Simon Property Group by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust's stock worth $173,000 after acquiring an additional 55 shares during the period. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Simon Property Group from $199.00 to $222.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Bank of America boosted their price target on Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a report on Monday, June 29th. Evercore set a $215.00 price objective on Simon Property Group in a research note on Tuesday, July 7th. Wolfe Research downgraded Simon Property Group from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 30th. Finally, LADENBURG THALM/SH SH raised their target price on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $223.00.

Simon Property Group Stock Down 1.3%

NYSE SPG opened at $220.33 on Friday. The stock's 50 day moving average is $223.07 and its 200 day moving average is $207.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group, Inc. has a 12 month low of $172.19 and a 12 month high of $238.50. The stock has a market cap of $71.29 billion, a PE ratio of 15.54, a P/E/G ratio of 2.78 and a beta of 1.30.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.15). The company had revenue of $1.79 billion for 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 period last year, the business earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Research analysts predict that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Announces Dividend

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

Insider Buying and Selling

In related news, Director Larry C. Glasscock acquired 397 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, with a total value of $88,681.86. Following the acquisition, the director directly owned 45,902 shares of the company's stock, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Marta R. Stewart acquired 182 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $223.16 per share, with a total value of $40,615.12. Following the transaction, the director owned 18,000 shares of the company's stock, valued at approximately $4,016,880. This represents a 1.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,387 shares of company stock worth $533,056 in the last 90 days. 8.73% of the stock is owned by company insiders.

About Simon Property Group

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source