Rakuten Investment Management Inc. Purchases 4,745 Shares of Simon Property Group, Inc. $SPG

Key Points

• Rakuten Investment Management increased its Simon Property Group position by 9.8%, purchasing 4,745 shares to hold 53,072 shares valued at approximately $12.1 million. Institutional investors collectively own 93.01% of SPG.
• Analysts maintain a largely cautious outlook, with a consensus “Hold” rating and an average price target of $225.27. Recent targets range from $215 to $275, while SPG recently traded at $214.65.
• Simon Property Group reported quarterly revenue of $1.79 billion, up 19.5% year over year, but missed EPS expectations. The company declared a quarterly dividend of $2.25 per share, equivalent to a 4.2% annualized yield.

Rakuten Investment Management Inc. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,072 shares of the real estate investment trust's stock after buying an additional 4,745 shares during the quarter. Rakuten Investment Management Inc.'s holdings in Simon Property Group were worth $12,077,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Simon Property Group by 1.2% during the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock worth $8,335,255,000 after purchasing an additional 455,543 shares in the last quarter. State Street Corp lifted 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 worth $4,084,730,000 after purchasing an additional 312,995 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 363,337 shares during the period. Capital World Investors boosted its stake 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 purchasing an additional 226,271 shares during the period. Finally, Bank of America Corp DE grew its holdings in Simon Property Group by 6.1% during the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock valued at $1,586,089,000 after buying an additional 491,519 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Insiders Place Their Bets

In related news, Director Marta R. Stewart bought 182 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $223.16 per share, with a total value of $40,615.12. Following the transaction, the director owned 18,000 shares in the company, valued at $4,016,880. This trade represents a 1.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel purchased 243 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $223.36 per share, with a total value of $54,276.48. Following the completion of the transaction, the director owned 21,067 shares of the company's stock, valued at $4,705,525.12. The trade was a 1.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 2,387 shares of company stock worth $533,056. 8.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SPG has been the topic of several recent analyst reports. Evercore set a $215.00 price objective on shares of Simon Property Group in a research report on Tuesday, July 7th. Scotiabank raised their target price on shares of Simon Property Group from $220.00 to $222.00 and gave the company a "sector perform" rating in a research note on Thursday, August 20th. Barclays lifted their price target on shares of Simon Property Group from $213.00 to $215.00 and gave the company an "equal weight" rating in a report on Monday, August 17th. LADENBURG THALM/SH SH boosted their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price objective for the company. in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $225.27.

Simon Property Group Stock Down 0.1%

NYSE SPG opened at $214.65 on Friday. The stock has a 50 day moving average price of $223.52 and a 200-day moving average price of $207.92. Simon Property Group, Inc. has a one year low of $172.19 and a one year high of $238.50. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $69.45 billion, a P/E ratio of 15.14, a P/E/G ratio of 2.68 and a beta of 1.30.

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

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given 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 4.2%. Simon Property Group's dividend payout ratio is 63.47%.

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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