Elevation Point Wealth Partners LLC Takes Position in Simon Property Group, Inc. $SPG

Elevation Point Wealth Partners LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 10,158 shares of the real estate investment trust's stock, valued at approximately $2,272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alta Advisers Ltd purchased a new stake in Simon Property Group in the second quarter valued at $287,000. Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Simon Property Group during the second quarter worth about $3,444,000. Commerce Bank purchased a new position in shares of Simon Property Group during the second quarter worth about $5,462,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Simon Property Group during the second quarter worth about $8,201,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of Simon Property Group in the 2nd quarter valued at about $2,852,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other news, Director Larry C. Glasscock acquired 397 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the transaction, the director directly owned 45,902 shares in the company, valued at approximately $10,253,588.76. This represents a 0.87% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel acquired 243 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the purchase, the director directly owned 21,067 shares in the company, valued at $4,705,525.12. This trade represents a 1.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company's stock.

Simon Property Group Price Performance

Shares of SPG opened at $218.52 on Monday. 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 fifty-two week low of $172.19 and a fifty-two week high of $238.50. The firm has a 50-day simple moving average of $223.06 and a 200-day simple moving average of $207.24. The company has a market capitalization of $70.70 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.72 and a beta of 1.30.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) 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 analyst estimates 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 was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $2.25 dividend. The ex-dividend date of this dividend 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 presently 63.47%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SPG shares. LADENBURG THALM/SH SH upped their target price on Simon Property Group from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a research report on Monday, June 1st. Stifel Nicolaus boosted their price objective on Simon Property Group from $194.00 to $209.00 and gave the company a "hold" rating in a research note on Tuesday, August 11th. UBS Group increased their price objective on Simon Property Group from $199.00 to $222.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, Bank of America raised their target price 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. Two investment 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, Simon Property Group presently has an average rating of "Hold" and an average target price of $223.00.

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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