Elevation Point Wealth Partners LLC Has $1.86 Million Position in Simon Property Group, Inc. $SPG

Key Points

• Elevation Point Wealth Partners boosted its Simon Property Group stake by 381.9% in the first quarter, ending with 9,999 shares valued at about $1.86 million.
• Several analysts raised their price targets on SPG, including Bank of America to $236, while the overall consensus remains Hold with a target of $211.47.
• Simon Property Group reported solid results and raised its dividend: quarterly EPS of $1.48 beat estimates, revenue rose 19.3% year over year, and the quarterly dividend increased to $2.25 per share.

Elevation Point Wealth Partners LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 381.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,999 shares of the real estate investment trust's stock after buying an additional 7,924 shares during the period. Elevation Point Wealth Partners LLC's holdings in Simon Property Group were worth $1,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Great Valley Advisor Group Inc. lifted its stake in shares of Simon Property Group by 2.3% in the fourth quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust's stock worth $437,000 after acquiring an additional 52 shares during the period. Veridan Wealth LLC increased its position in Simon Property Group by 1.2% during the 4th quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust's stock valued at $845,000 after purchasing an additional 53 shares during the period. CYBER HORNET ETFs LLC increased its position in Simon Property Group by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust's stock valued at $173,000 after purchasing an additional 55 shares during the period. Embree Financial Group raised its holdings in Simon Property Group by 2.4% during the 4th quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust's stock worth $447,000 after purchasing an additional 56 shares during the last quarter. Finally, O ROURKE & COMPANY Inc raised its holdings in Simon Property Group by 2.8% during the 4th quarter. O ROURKE & COMPANY Inc now owns 2,124 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Citigroup lifted their target price on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a report on Monday, June 1st. Finally, Scotiabank upped their price target 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $211.47.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 243 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $223.36 per share, with a total value of $54,276.48. Following the transaction, the director directly owned 21,067 shares of the company's stock, valued at $4,705,525.12. This trade represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Smith bought 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.31 per share, with a total value of $83,071.32. Following the completion of the purchase, the director owned 34,480 shares in the company, valued at $7,699,728.80. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 2,387 shares of company stock worth $533,056. 8.73% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $225.77 on Monday. The firm has a 50 day moving average of $209.31 and a 200-day moving average of $197.66. The company has a market cap of $73.21 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 4.09 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 52 week low of $159.33 and a 52 week high of $228.57.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $2.25 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 9th. Simon Property Group's dividend payout ratio (DPR) is currently 62.54%.

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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