Biondo Investment Advisors LLC Takes $15.67 Million Position in Simon Property Group, Inc. $SPG

Biondo Investment Advisors LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 70,055 shares of the real estate investment trust's stock, valued at approximately $15,668,000. Simon Property Group accounts for approximately 1.9% of Biondo Investment Advisors LLC's holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Norges Bank bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $1,112,111,000. Wellington Management Group LLP raised its stake in shares of Simon Property Group by 7.7% in the fourth 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 purchasing an additional 569,772 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock valued at $1,586,089,000 after purchasing an additional 491,519 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Simon Property Group in the second quarter worth $104,281,000. Finally, BlackRock Inc. boosted its stake in Simon Property Group by 1.2% during the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock worth $8,335,255,000 after buying an additional 455,543 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.1%

Shares of NYSE SPG opened at $218.52 on Monday. The stock has a market cap of $70.70 billion, a PE ratio of 15.41, a PEG ratio of 2.72 and a beta of 1.30. The business has a fifty day moving average of $223.06 and a two-hundred day moving average of $207.24. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, equities research analysts expect that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 is currently 63.47%.

Analysts Set New Price Targets

SPG has been the topic of several analyst reports. Bank of America boosted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a report on Monday, June 29th. Citigroup raised their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a "neutral" rating in a report on Monday, August 17th. JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a research report on Monday, June 1st. Stifel Nicolaus upped their target price on shares of Simon Property Group from $194.00 to $209.00 and gave the company a "hold" rating in a research note on Tuesday, August 11th. Finally, Evercore set a $215.00 price target on shares of Simon Property Group in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $223.00.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith bought 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $223.31 per share, with a total value of $83,071.32. Following the acquisition, the director directly owned 34,480 shares of the company's stock, valued at $7,699,728.80. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marta R. Stewart purchased 182 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of $223.16 per share, for a total transaction of $40,615.12. Following the completion of the transaction, the director owned 18,000 shares in the company, valued at $4,016,880. The trade was a 1.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 2,387 shares of company stock valued at $533,056. Insiders own 8.73% of the company's stock.

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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