Nisa Investment Advisors LLC Sells 12,136 Shares of Simon Property Group, Inc. $SPG

Key Points

• Nisa Investment Advisors reduced its Simon Property Group stake by 9.5%, selling 12,136 shares and retaining 115,587 shares valued at approximately $23.2 million. Institutional investors collectively own 93.01% of SPG.
• Analysts maintain a generally cautious outlook, with one Strong Buy, four Buy, and thirteen Hold ratings. The stock has an average rating of Hold and an average price target of $224.07, compared with an opening price of $205.52.
• Simon Property Group reported quarterly revenue of $1.79 billion, up 19.5% year over year, but earnings of $1.49 per share fell short of estimates. The company pays a quarterly dividend of $2.25 per share, representing a 4.4% annualized yield.

Nisa Investment Advisors LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,587 shares of the real estate investment trust's stock after selling 12,136 shares during the quarter. Nisa Investment Advisors LLC's holdings in Simon Property Group were worth $23,205,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SPG. Nykredit A S bought a new stake in Simon Property Group during the second quarter worth $25,186,000. Corient Private Wealth LP raised its position in Simon Property Group by 64.3% in the 2nd quarter. Corient Private Wealth LP now owns 87,140 shares of the real estate investment trust's stock valued at $19,489,000 after buying an additional 34,112 shares during the last quarter. Mystic Asset Management Inc. purchased a new stake in Simon Property Group in the 2nd quarter valued at $2,234,000. Saudi Central Bank lifted its stake in Simon Property Group by 88.7% during the 2nd quarter. Saudi Central Bank now owns 22,739 shares of the real estate investment trust's stock valued at $5,086,000 after acquiring an additional 10,689 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Simon Property Group during the 2nd quarter valued at $5,074,000. Institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SPG shares. Bank of America lifted their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Wolfe Research downgraded shares of Simon Property Group from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of Simon Property Group from a "buy (a-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the company a "hold" rating in a research report on Tuesday, August 11th. Finally, UBS Group cut their price target on shares of Simon Property Group from $222.00 to $205.00 and set a "neutral" rating on the stock in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $224.07.

Simon Property Group Stock Performance

SPG stock opened at $205.52 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. The firm has a market cap of $66.50 billion, a PE ratio of 15.72, a P/E/G ratio of 3.19 and a beta of 1.30. The business has a 50 day moving average of $208.06 and a 200-day moving average of $211.07. Simon Property Group, Inc. has a 12-month low of $172.19 and a 12-month high of $238.50.

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 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $1.70 earnings per share. The business's revenue was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 13.23 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.4%. Simon Property Group's dividend payout ratio (DPR) is currently 63.47%.

Insider Activity

In related news, Director Daniel C. Smith purchased 350 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average cost of $202.78 per share, with a total value of $70,973.00. Following the acquisition, the director owned 34,830 shares of the company's stock, valued at $7,062,827.40. This represents a 1.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz purchased 480 shares of Simon Property Group stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of $202.78 per share, with a total value of $97,334.40. Following the transaction, the director owned 56,277 shares of the company's stock, valued at $11,411,850.06. This trade represents a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 1,668 shares of company stock worth $338,237. 8.73% of the stock is owned by insiders.

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 other retail properties designed to serve both local shoppers and visitors.

The company's properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.