Caisse de depot et placement du Quebec purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 643,630 shares of the real estate investment trust's stock, valued at approximately $143,948,000. Caisse de depot et placement du Quebec owned 0.20% of Simon Property Group as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of SPG. BlackRock Inc. lifted its holdings in Simon Property Group by 1.2% in 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 purchasing an additional 455,543 shares during the period. State Street Corp increased its stake 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 valued at $4,084,730,000 after buying an additional 312,995 shares during the period. Geode Capital Management LLC raised its position in shares of Simon Property Group by 3.6% during 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 buying an additional 363,337 shares in the last quarter. Capital World Investors raised its position in shares of Simon Property Group by 2.7% during 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 buying an additional 226,271 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock worth $1,586,089,000 after acquiring an additional 491,519 shares during the period. 93.01% of the stock is currently owned by institutional investors.
Insider Transactions at Simon Property Group
In related news, Director Larry C. Glasscock acquired 397 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the transaction, 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 this hyperlink. Also, Director Glyn Aeppel acquired 243 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.36 per share, with a total value of $54,276.48. Following the completion of the purchase, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,387 shares of company stock valued at $533,056 in the last 90 days. 8.73% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Bank of America increased their price objective 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. LADENBURG THALM/SH SH boosted their target price on Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Evercore set a $215.00 target price on Simon Property Group in a research report on Tuesday, July 7th. 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 research note on Tuesday, June 9th. Finally, Weiss Ratings raised Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $223.00.
View Our Latest Research Report on Simon Property Group
Simon Property Group Price Performance
Shares of Simon Property Group stock opened at $217.12 on Thursday. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. The stock has a market cap of $70.25 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.73 and a beta of 1.30. The company's 50-day moving average price is $223.39 and its two-hundred day moving average price is $207.76.
Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.79 billion for 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 business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.
Simon Property Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is presently 63.47%.
About Simon Property Group
(
Free Report)
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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