Nicholas Investment Partners LP bought a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 49,290 shares of the real estate investment trust's stock, valued at approximately $11,024,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SPG. Vanguard Group Inc. lifted its position in shares of Simon Property Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock worth $8,694,610,000 after purchasing an additional 286,464 shares during the last quarter. BlackRock Inc. grew its holdings in Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock valued at $8,335,255,000 after buying an additional 455,543 shares during the last quarter. State Street Corp grew its holdings in Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock valued at $4,084,730,000 after buying an additional 312,995 shares during the last quarter. Geode Capital Management LLC increased its position in Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust's stock worth $1,950,967,000 after buying an additional 363,337 shares during the period. Finally, Capital World Investors increased its position in Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust's stock worth $1,593,872,000 after buying an additional 226,271 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.
Simon Property Group Price Performance
Shares of SPG stock opened at $220.66 on Tuesday. The stock has a 50 day moving average of $223.18 and a two-hundred day moving average of $207.46. 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 12 month low of $172.19 and a 12 month high of $238.50. The company has a market capitalization of $71.40 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.72 and a beta of 1.30.
Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.Simon Property Group's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, equities analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current year.
Simon Property Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. Simon Property Group's payout ratio is currently 63.47%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price objective for the company. in a research report on Thursday, July 9th. Truist Financial boosted their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded shares of Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. Piper Sandler increased their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Finally, Bank of America raised 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. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and a consensus target price of $223.00.
Read Our Latest Stock Analysis on SPG
Insider Transactions at Simon Property Group
In other Simon Property Group news, Director Gary M. Rodkin acquired 256 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the purchase, the director owned 21,016 shares in the company, valued at $4,693,713.44. This represents a 1.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Marta R. Stewart acquired 182 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $223.16 per share, with a total value of $40,615.12. Following the purchase, the director owned 18,000 shares in the company, valued at approximately $4,016,880. This represents a 1.02% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 2,387 shares of company stock worth $533,056. 8.73% of the stock is currently owned by company insiders.
Simon Property Group Company Profile
(
Free Report)
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.
Further Reading
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