Simon Property Group, Inc. $SPG Holdings Cut by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its Simon Property Group stake by 48.1% in the third quarter, selling 21,930 shares and retaining 23,675 shares valued at approximately $4.75 million. Institutional investors still own 93.01% of SPG.
• Analyst sentiment remains cautious: SPG has a consensus “Hold” rating from MarketBeat, with a consensus price target of $224.07. Recent firms have generally maintained neutral or hold ratings, with price targets ranging from $205 to $226.
• Simon Property Group reported quarterly revenue of $1.79 billion, up 19.5% year over year, but EPS of $1.49 missed estimates of $1.64. The REIT also maintains a quarterly dividend of $2.25, equivalent to a 4.2% annualized yield.

Sterling Capital Management LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 48.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,675 shares of the real estate investment trust's stock after selling 21,930 shares during the period. Sterling Capital Management LLC's holdings in Simon Property Group were worth $4,753,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Simon Property Group by 1.2% during 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 acquiring an additional 455,543 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Simon Property Group by 2.7% in the second quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust's stock worth $2,100,146,000 after purchasing an additional 242,709 shares during the last quarter. Bank of America Corp DE increased its position in shares of Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock worth $1,586,089,000 after purchasing an additional 491,519 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Simon Property Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust's stock worth $859,209,000 after purchasing an additional 105,524 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Simon Property Group by 13,579.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust's stock valued at $806,167,000 after purchasing an additional 3,578,240 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Activity at Simon Property Group

In related news, Director Daniel Smith acquired 350 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average cost of $202.78 per share, with a total value of $70,973.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stefan Selig purchased 208 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was bought at an average cost of $202.78 per share, for a total transaction of $42,178.24. Following the completion of the purchase, the director directly owned 34,020 shares in the company, valued at approximately $6,898,575.60. This trade represents a 0.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 1,668 shares of company stock worth $338,237 in the last 90 days. Corporate insiders own 8.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SPG shares. Deutsche Bank Aktiengesellschaft lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 target price for the company. in a research report on Thursday, July 9th. Stifel Nicolaus increased their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a "hold" rating in a report on Tuesday, August 11th. UBS Group decreased 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. Wolfe Research cut shares of Simon Property Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, June 30th. Finally, Mizuho lifted their price objective on shares of Simon Property Group from $211.00 to $226.00 and gave the stock a "neutral" rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $224.07.

Simon Property Group Stock Performance

NYSE:SPG opened at $211.85 on Friday. The business has a 50 day moving average of $207.72 and a 200 day moving average of $211.24. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.26 and a beta of 1.30. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year high of $238.50. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05.

Simon Property Group (NYSE:SPG - Get Free Report) last issued 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 firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the company earned $1.70 EPS. The firm's quarterly 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. On average, sell-side analysts predict that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.2%. Simon Property Group's dividend payout ratio is 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 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.

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