Bank of America Corp DE Purchases 491,519 Shares of Simon Property Group, Inc. $SPG

Bank of America Corp DE lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,503,133 shares of the real estate investment trust's stock after purchasing an additional 491,519 shares during the quarter. Bank of America Corp DE owned 2.62% of Simon Property Group worth $1,586,089,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Anson Funds Management LP purchased a new stake in shares of Simon Property Group during the 1st quarter valued at about $4,868,000. Kentucky Retirement Systems grew its position in Simon Property Group by 26.0% in the first quarter. Kentucky Retirement Systems now owns 25,621 shares of the real estate investment trust's stock worth $4,779,000 after acquiring an additional 5,280 shares in the last quarter. Janus Henderson Group PLC increased its stake in Simon Property Group by 535.0% during the first quarter. Janus Henderson Group PLC now owns 338,772 shares of the real estate investment trust's stock worth $63,199,000 after acquiring an additional 285,426 shares during the last quarter. Centaurus Financial Inc. increased its stake in Simon Property Group by 5.4% during the first quarter. Centaurus Financial Inc. now owns 1,089 shares of the real estate investment trust's stock worth $203,000 after acquiring an additional 56 shares during the last quarter. Finally, Oddo BHF Asset Management Sas raised its position in Simon Property Group by 4.8% during the first quarter. Oddo BHF Asset Management Sas now owns 14,894 shares of the real estate investment trust's stock valued at $2,778,000 after purchasing an additional 688 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

SPG opened at $230.17 on Friday. The business has a fifty day moving average of $218.40 and a 200 day moving average of $203.10. The stock has a market cap of $74.64 billion, a P/E ratio of 16.00, a PEG ratio of 3.04 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 52-week low of $159.70 and a 52-week high of $238.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business's revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date 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 (DPR) is 62.54%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent research reports. Scotiabank lifted their target price on Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Citigroup raised their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, July 14th. Evercore set a $215.00 price objective on shares of Simon Property Group in a research report on Tuesday, July 7th. Finally, Stifel Nicolaus increased their target price 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average price target of $216.14.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock purchased 397 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the acquisition, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Glyn Aeppel acquired 243 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the purchase, the director owned 21,067 shares of the company's stock, valued at $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 2,387 shares of company stock worth $533,056 over the last ninety days. 8.73% of the stock is currently owned by company insiders.

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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