IPG Investment Advisors LLC Buys New Position in Simon Property Group, Inc. $SPG

IPG Investment Advisors LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,509 shares of the real estate investment trust's stock, valued at approximately $1,903,000.

Several other large investors have also bought and sold shares of the stock. Stance Capital LLC purchased a new position in Simon Property Group during the 3rd quarter worth $26,000. Ancora Advisors LLC purchased a new position in Simon Property Group during the second quarter worth about $27,000. Wilkerson Advisory Group LLC bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $29,000. Osbon Capital Management LLC purchased a new stake in shares of Simon Property Group during the second quarter valued at approximately $32,000. Finally, SHP Wealth Management bought a new stake in Simon Property Group during the fourth quarter worth $34,000. 93.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Marta R. Stewart purchased 182 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $223.16 per share, with a total value of $40,615.12. Following the acquisition, the director directly owned 18,000 shares in the company, valued at approximately $4,016,880. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry C. Glasscock acquired 397 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the transaction, the director directly owned 45,902 shares of the company's stock, valued at $10,253,588.76. This represents a 0.87% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPG. Piper Sandler boosted their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Barclays raised their price target on shares of Simon Property Group from $213.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. JPMorgan Chase & Co. increased their price objective on Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a report on Monday, June 1st. Jefferies Financial Group upgraded Simon Property Group to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Evercore set a $215.00 price objective on Simon Property Group in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of "Hold" and an average price target of $228.14.

Simon Property Group Stock Down 3.5%

Simon Property Group stock opened at $204.47 on Thursday. The firm has a 50 day simple moving average of $221.57 and a 200 day simple moving average of $208.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year high of $238.50. The firm has a market capitalization of $66.16 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 3.19 and a beta of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its 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). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The company had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The company's revenue was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group's payout ratio is presently 63.47%.

Simon Property Group Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.

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