Simon Property Group, Inc. $SPG Shares Acquired by Corient Private Wealth LP

Key Points

• Institutional ownership increased: Corient Private Wealth LP raised its Simon Property Group stake by 64.3% to 87,140 shares, while institutional investors collectively own 93.01% of the company.
• Analysts remain cautious: Although several firms raised their price targets, the consensus rating is “Hold” with an average target of $228.43.
• Dividend remains attractive: Simon Property Group declared a quarterly dividend of $2.25 per share, equivalent to $9.00 annually and a 4.4% yield.

Corient Private Wealth LP grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 64.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,140 shares of the real estate investment trust's stock after buying an additional 34,112 shares during the period. Corient Private Wealth LP's holdings in Simon Property Group were worth $19,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Simon Property Group during the second quarter worth $83,904,000. California State Teachers Retirement System raised its holdings in Simon Property Group by 20,284.8% during the second quarter. California State Teachers Retirement System now owns 105,279,435 shares of the real estate investment trust's stock valued at $23,545,746,000 after buying an additional 104,762,975 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Simon Property Group by 3.8% in the second quarter. Wedmont Private Capital now owns 7,560 shares of the real estate investment trust's stock worth $1,654,000 after buying an additional 279 shares during the last quarter. HB Wealth Management LLC boosted its position in Simon Property Group by 1.0% during the second quarter. HB Wealth Management LLC now owns 8,313 shares of the real estate investment trust's stock worth $1,859,000 after purchasing an additional 84 shares during the period. Finally, Saudi Central Bank lifted its stake in shares of Simon Property Group by 88.7% in the second quarter. Saudi Central Bank now owns 22,739 shares of the real estate investment trust's stock worth $5,086,000 after buying an additional 10,689 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock bought 397 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director owned 45,902 shares in the company, valued at $10,253,588.76. This represents a 0.87% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz acquired 508 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $223.38 per share, with a total value of $113,477.04. Following the acquisition, the director owned 55,797 shares of the company's stock, valued at approximately $12,463,933.86. This trade represents a 0.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,387 shares of company stock valued at $533,056 in the last three months. Corporate insiders own 8.73% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SPG. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a research report on Monday, June 1st. Mizuho raised 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. Scotiabank raised their price objective on shares of Simon Property Group from $220.00 to $222.00 and gave the stock a "sector perform" rating in a report on Thursday, August 20th. Citigroup lifted their price target on Simon Property Group from $205.00 to $230.00 and gave the company a "neutral" rating in a report on Monday, August 17th. Finally, Wolfe Research lowered Simon Property Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $228.43.

Simon Property Group Price Performance

NYSE SPG opened at $204.91 on Tuesday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. The business has a 50 day simple moving average of $220.34 and a 200 day simple moving average of $208.82. The stock has a market cap of $66.30 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 3.09 and a beta of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results 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). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last 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. Analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, September 9th. Simon Property Group's payout ratio is presently 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 The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.

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