NewEdge Wealth LLC Sells 4,540 Shares of Simon Property Group, Inc. $SPG

Key Points

• NewEdge Wealth reduced its Simon Property Group stake by 40.3% in the first quarter, selling 4,540 shares and retaining 6,726 shares valued at approximately $1.26 million. Institutional investors collectively own 93.01% of SPG.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and average price target of $216.14, below SPG’s recent trading price of $229.52.
• Simon Property Group reported quarterly EPS of $1.48, exceeding estimates, while revenue rose 19.3% year over year to $1.76 billion. The REIT also raised its quarterly dividend to $2.25, implying an annualized yield of about 3.9%.

NewEdge Wealth LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 40.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,726 shares of the real estate investment trust's stock after selling 4,540 shares during the period. NewEdge Wealth LLC's holdings in Simon Property Group were worth $1,255,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SPG. CacheTech Inc. increased its holdings in Simon Property Group by 13.6% in the 1st quarter. CacheTech Inc. now owns 4,720 shares of the real estate investment trust's stock worth $880,000 after acquiring an additional 565 shares in the last quarter. ABN Amro Investment Solutions bought a new stake in Simon Property Group during the 1st quarter worth approximately $2,342,000. Oslo Pensjonsforsikring AS bought a new stake in Simon Property Group during the 1st quarter worth approximately $100,000. Andra AP fonden lifted its holdings in Simon Property Group by 244.3% during the first quarter. Andra AP fonden now owns 101,562 shares of the real estate investment trust's stock valued at $18,944,000 after purchasing an additional 72,062 shares in the last quarter. Finally, Convergence Investment Partners LLC lifted its holdings in Simon Property Group by 13.1% during the first quarter. Convergence Investment Partners LLC now owns 9,712 shares of the real estate investment trust's stock valued at $1,812,000 after purchasing an additional 1,128 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. UBS Group raised their price objective on shares of Simon Property Group from $199.00 to $222.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Morgan Stanley lifted their target price 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. Barclays upped their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. increased their price target on Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $216.14.

Simon Property Group Trading Down 0.1%

SPG stock opened at $229.52 on Monday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a 1-year low of $159.70 and a 1-year high of $231.52. The business has a 50 day simple moving average of $215.92 and a two-hundred day simple moving average of $201.73. The company has a market capitalization of $74.43 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.97 and a beta of 1.29.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter last year, the business posted $2.95 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared 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 was Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's payout ratio is presently 62.54%.

Insider Buying and Selling

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

Simon Property Group 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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