Diversify Wealth Management LLC Boosts Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Diversify Wealth Management LLC increased its stake in Simon Property Group by 244.2% in the first quarter, bringing its holdings to 11,469 shares valued at about $2.3 million.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 versus the $1.46 estimate and revenue of $1.76 billion, up 19.3% from a year ago.
• The REIT raised its quarterly dividend to $2.25 per share from $2.20, implying an annualized dividend of $9.00 and a yield of about 4.1%.

Diversify Wealth Management LLC raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 244.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,469 shares of the real estate investment trust's stock after purchasing an additional 8,137 shares during the quarter. Diversify Wealth Management LLC's holdings in Simon Property Group were worth $2,295,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stance Capital LLC purchased a new stake in shares of Simon Property Group in the third quarter valued at approximately $26,000. Wilkerson Advisory Group LLC bought a new position in Simon Property Group in the fourth quarter worth approximately $29,000. SHP Wealth Management purchased a new position in Simon Property Group during the 4th quarter worth $34,000. Tompkins Financial Corp purchased a new stake in shares of Simon Property Group in the 4th quarter worth $42,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Simon Property Group in the 4th quarter worth $46,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPG shares. JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a research note on Monday, June 1st. Scotiabank raised their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price target for the company. in a report on Thursday, July 9th. Citigroup upped their price target on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Morgan Stanley increased 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 research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $213.07.

Simon Property Group Trading Up 0.4%

Simon Property Group stock opened at $219.56 on Tuesday. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $71.20 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.83 and a beta of 1.29. The stock has a 50-day moving average of $211.64 and a two-hundred day moving average of $199.20. Simon Property Group, Inc. has a one year low of $159.33 and a one year high of $229.59.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results 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. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. Simon Property Group's revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $2.25 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This is a positive change 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 4.1%. Simon Property Group's dividend payout ratio is presently 62.54%.

Insider Buying and Selling

In related news, Director Larry C. Glasscock purchased 397 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $223.38 per share, with a total value of $88,681.86. Following the acquisition, the director owned 45,902 shares in the company, valued at $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 Reuben S. Leibowitz bought 508 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.38 per share, with a total value of $113,477.04. Following the purchase, the director directly owned 55,797 shares of the company's stock, valued at approximately $12,463,933.86. This represents a 0.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 2,387 shares of company stock valued at $533,056 in the last ninety days. Company insiders own 8.73% of the company's stock.

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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