Bank of New York Mellon Corp Sells 39,373 Shares of Simon Property Group, Inc. $SPG

Bank of New York Mellon Corp trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,079,177 shares of the real estate investment trust's stock after selling 39,373 shares during the period. Bank of New York Mellon Corp owned 0.64% of Simon Property Group worth $387,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Harel Insurance Investments & Financial Services Ltd. bought a new position in Simon Property Group during the first quarter worth about $93,000. Advisors Preferred LLC lifted its position in shares of Simon Property Group by 91.9% in the first quarter. Advisors Preferred LLC now owns 2,888 shares of the real estate investment trust's stock valued at $539,000 after buying an additional 1,383 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Simon Property Group by 48.1% during the 1st quarter. Sanctuary Advisors LLC now owns 34,533 shares of the real estate investment trust's stock worth $6,442,000 after acquiring an additional 11,209 shares during the period. Sigma Planning Corp boosted its stake in shares of Simon Property Group by 4.6% during the 1st quarter. Sigma Planning Corp now owns 12,822 shares of the real estate investment trust's stock worth $2,392,000 after acquiring an additional 560 shares during the period. Finally, Checchi Capital Advisers LLC increased its holdings in shares of Simon Property Group by 5.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,690 shares of the real estate investment trust's stock worth $875,000 after acquiring an additional 261 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a report on Monday, June 1st. Morgan Stanley upped their price objective on shares of Simon Property Group from $205.00 to $207.00 and gave the company an "equal weight" rating in a report on Tuesday, June 9th. Weiss Ratings raised shares of Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday. UBS Group raised their target price on shares of Simon Property Group from $199.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Finally, Evercore set a $215.00 target price on shares of Simon Property Group in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $212.21.

Simon Property Group Stock Down 0.0%

SPG opened at $228.47 on Friday. The stock has a fifty day moving average of $213.40 and a 200-day moving average of $200.15. The company has a market capitalization of $74.09 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.95 and a beta of 1.29. Simon Property Group, Inc. has a fifty-two week low of $159.70 and a fifty-two week high of $231.53. 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 issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the previous year, the company earned $2.95 EPS. The business's revenue 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. On average, equities analysts expect that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a dividend of $2.25 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group's dividend payout ratio (DPR) is currently 62.54%.

Insider Buying and Selling at Simon Property Group

In related news, Director Gary M. Rodkin purchased 256 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the transaction, the director owned 21,016 shares of the company's stock, valued at approximately $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Glyn Aeppel purchased 243 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $223.36 per share, for a total transaction of $54,276.48. Following the transaction, the director directly owned 21,067 shares of the company's stock, valued at $4,705,525.12. This trade represents a 1.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,387 shares of company stock valued at $533,056 over the last ninety days. 8.73% of the stock is owned by corporate 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.

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