BlackRock Inc. Acquires 455,543 Shares of Simon Property Group, Inc. $SPG

BlackRock Inc. raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,269,192 shares of the real estate investment trust's stock after acquiring an additional 455,543 shares during the quarter. BlackRock Inc. owned about 11.49% of Simon Property Group worth $8,335,255,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC raised its holdings in Simon Property Group by 3.3% during the second quarter. Perigon Wealth Management LLC now owns 8,223 shares of the real estate investment trust's stock valued at $1,839,000 after buying an additional 266 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of Simon Property Group in the second quarter worth about $1,045,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Simon Property Group by 6.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,063,661 shares of the real estate investment trust's stock worth $237,888,000 after acquiring an additional 61,866 shares in the last quarter. Plato Investment Management Ltd boosted its stake in shares of Simon Property Group by 4.4% during the 2nd quarter. Plato Investment Management Ltd now owns 13,239 shares of the real estate investment trust's stock worth $2,944,000 after acquiring an additional 556 shares in the last quarter. Finally, Simplicity Wealth LLC increased its holdings in shares of Simon Property Group by 2,197.3% during the 2nd quarter. Simplicity Wealth LLC now owns 51,964 shares of the real estate investment trust's stock valued at $11,622,000 after acquiring an additional 49,702 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings raised Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. LADENBURG THALM/SH SH upped their target price on Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Morgan Stanley increased their price target on Simon Property Group from $205.00 to $207.00 and gave the company an "equal weight" rating in a report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Citigroup boosted their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a "neutral" rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $222.87.

Simon Property Group Stock Performance

NYSE:SPG opened at $221.16 on Tuesday. The firm's 50-day moving average is $222.58 and its 200-day moving average is $206.35. The company has a market cap of $71.72 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.74 and a beta of 1.30. 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, Inc. has a 52-week low of $172.09 and a 52-week high of $238.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. Simon Property Group's payout ratio is currently 63.47%.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry C. Glasscock acquired 397 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $223.38 per share, with a total value of $88,681.86. Following the acquisition, the director owned 45,902 shares of the company's stock, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith bought 372 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the transaction, the director owned 34,480 shares in the company, valued at $7,699,728.80. This represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,387 shares of company stock valued at $533,056 in the last ninety days. 8.73% of the stock is currently owned by 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.

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