Empowered Funds LLC Purchases 19,809 Shares of Simon Property Group, Inc. $SPG

Key Points

• Empowered Funds increased its Simon Property Group stake by 24.9% in the first quarter, acquiring 19,809 shares for a total holding of 99,246 shares valued at approximately $18.5 million. Institutional investors and hedge funds collectively own 93.01% of SPG.
• Analyst sentiment remains mixed: Piper Sandler raised its target to $285 with an overweight rating, while the broader analyst consensus is “Hold” with an average price target of $216.14. Jefferies also upgraded the stock to “strong buy.”
• SPG shares recently traded at $237.01, near their 52-week high, after the company beat quarterly earnings and revenue estimates. Simon raised its quarterly dividend to $2.25, equivalent to a $9.00 annual payout and a 3.8% yield.

Empowered Funds LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 24.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,246 shares of the real estate investment trust's stock after buying an additional 19,809 shares during the period. Empowered Funds LLC's holdings in Simon Property Group were worth $18,512,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SPG. Brighton Jones LLC acquired a new position in Simon Property Group during the 4th quarter valued at approximately $295,000. Marshall Wace LLP lifted its stake in shares of Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust's stock worth $3,181,000 after buying an additional 15,033 shares during the period. Jump Financial LLC lifted its stake in shares of Simon Property Group by 80.1% during the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust's stock worth $2,714,000 after buying an additional 7,506 shares during the period. Cerity Partners LLC grew its holdings in shares of Simon Property Group by 1.7% during the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust's stock valued at $5,745,000 after buying an additional 598 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust's stock valued at $4,573,000 after buying an additional 3,372 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on 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. Piper Sandler boosted their price target on Simon Property Group from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Weiss Ratings raised Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, July 14th. Citigroup raised their price objective on Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Jefferies Financial Group raised Simon Property Group to a "strong-buy" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $216.14.

Insider Transactions at Simon Property Group

In related news, Director Gary M. Rodkin purchased 256 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $223.34 per share, with a total value of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares of the company's stock, valued at $4,693,713.44. The trade was a 1.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glyn Aeppel acquired 243 shares of the stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $223.36 per share, for a total transaction of $54,276.48. Following the transaction, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. This represents a 1.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by insiders.

Simon Property Group Trading Up 2.3%

Shares of Simon Property Group stock opened at $237.01 on Wednesday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a fifty day moving average price of $217.27 and a 200 day moving average price of $202.42. Simon Property Group, Inc. has a 1 year low of $159.70 and a 1 year high of $237.89. The stock has a market cap of $76.86 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm's revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a $2.25 dividend. The ex-dividend date 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 dividend yield of 3.8%. Simon Property Group's dividend payout ratio (DPR) is currently 62.54%.

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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