Diversify Advisory Services LLC Acquires Shares of 5,240 Simon Property Group, Inc. $SPG

Key Points

• Diversify Advisory Services acquired 5,240 shares of Simon Property Group worth approximately $1.2 million, while institutional investors collectively own 93.01% of the REIT.
• Analysts maintain a generally cautious view, with an overall “Hold” rating and a consensus price target of $222.87. Recent target increases ranged from $207 to $222.
• Simon reported quarterly revenue of $1.79 billion, up 19.5% year over year, but EPS of $1.49 fell short of estimates. The company declared a quarterly dividend of $2.25, equal to an annualized $9.00 and a 4.0% yield.

Diversify Advisory Services LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,240 shares of the real estate investment trust's stock, valued at approximately $1,214,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Simon Property Group in the fourth quarter worth about $1,112,111,000. Wellington Management Group LLP increased its stake in Simon Property Group by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust's stock worth $1,469,748,000 after acquiring an additional 569,772 shares during the last quarter. Bank of America Corp DE raised its position in Simon Property Group by 6.1% during 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 during the period. Cardano Risk Management B.V. purchased a new stake in Simon Property Group during the second quarter valued at approximately $104,281,000. Finally, BlackRock Inc. lifted its stake in shares of Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock valued at $8,335,255,000 after purchasing an additional 455,543 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPG. UBS Group lifted their target price on Simon Property Group from $199.00 to $222.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Evercore set a $215.00 price target on Simon Property Group in a report on Tuesday, July 7th. Truist Financial raised their price target on Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research report on Tuesday, June 23rd. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley lifted their price objective on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $222.87.

Insiders Place Their Bets

In related news, Director Gary M. Rodkin bought 256 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.34 per share, with a total value of $57,175.04. Following the completion of the purchase, the director owned 21,016 shares of the company's stock, valued at $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock purchased 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 completion of 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 2,387 shares of company stock valued at $533,056. Insiders own 8.73% of the company's stock.

Simon Property Group Stock Up 1.2%

Shares of NYSE SPG opened at $223.20 on Thursday. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. The firm has a 50-day simple moving average of $222.96 and a two-hundred day simple moving average of $206.84. The company has a market cap of $72.22 billion, a P/E ratio of 15.74, a PEG ratio of 2.75 and a beta of 1.30. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05.

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 EPS for the quarter, missing analysts' consensus estimates of $1.64 by ($0.15). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $1.70 EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. Simon Property Group's dividend payout ratio (DPR) is presently 63.47%.

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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