Arrowstreet Capital Limited Partnership Acquires Shares of 138,126 Simon Property Group, Inc. $SPG

Key Points

• Arrowstreet Capital acquired 138,126 shares of Simon Property Group worth approximately $25.8 million, while institutional investors collectively own 93.01% of SPG.
• Simon reported quarterly EPS of $1.48, beating estimates of $1.46, and revenue of $1.76 billion, up 19.3% year over year. The company raised its quarterly dividend to $2.25 per share, equivalent to a 3.8% yield.
• Analyst sentiment remains broadly cautious, with an average “Hold” rating and a $216.14 target price, although Piper Sandler raised its target to $285 and maintained an “Overweight” rating.

Arrowstreet Capital Limited Partnership acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 138,126 shares of the real estate investment trust's stock, valued at approximately $25,765,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock worth $8,694,610,000 after buying an additional 286,464 shares during the last quarter. State Street Corp lifted its holdings in Simon Property Group by 1.5% during the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock worth $4,084,730,000 after buying an additional 312,995 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust's stock worth $1,950,967,000 after acquiring an additional 363,337 shares in the last quarter. Capital World Investors grew its position in shares of Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust's stock worth $1,593,872,000 after acquiring an additional 226,271 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Simon Property Group by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust's stock valued at $1,469,748,000 after acquiring an additional 569,772 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock opened at $235.44 on Thursday. Simon Property Group, Inc. has a 12-month low of $159.70 and a 12-month high of $238.50. The firm has a market capitalization of $76.35 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 3.06 and a beta of 1.29. The business has a 50 day simple moving average of $217.90 and a 200 day simple moving average of $202.78. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $2.95 earnings per share. The company's quarterly revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's dividend payout ratio is 62.54%.

Insider Activity

In other news, Director Gary M. Rodkin bought 256 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of $223.34 per share, with a total value of $57,175.04. Following the completion of the acquisition, the director directly owned 21,016 shares in the company, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry C. Glasscock acquired 397 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired 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 approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,387 shares of company stock worth $533,056 in the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price target on the stock. in a research report on Thursday, July 9th. Bank of America boosted their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Piper Sandler increased their price objective on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised 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. Finally, Scotiabank lifted their target price on Simon Property Group from $206.00 to $220.00 and gave the company a "sector perform" rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $216.14.

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.

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