Simon Property Group, Inc. $SPG Shares Bought by Staley Capital Advisers Inc.

Key Points

• Staley Capital Advisers increased its Simon Property Group stake by 23% in the first quarter, buying 11,050 additional shares and lifting its holding to 59,100 shares worth about $11.0 million.
• Simon Property Group reported better-than-expected first-quarter earnings, with EPS of $1.48 versus estimates of $1.46 and revenue of $1.76 billion versus expectations of $1.54 billion.
• The REIT also raised its quarterly dividend to $2.25 per share, or $9.00 annually, for a yield of about 4.1%. The stock has drawn mixed analyst views, with a consensus rating of Hold and an average target price of $211.93.

Staley Capital Advisers Inc. grew its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,100 shares of the real estate investment trust's stock after purchasing an additional 11,050 shares during the quarter. Staley Capital Advisers Inc.'s holdings in Simon Property Group were worth $11,024,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hoey Investments Inc. raised its position in shares of Simon Property Group by 34.8% during the 1st quarter. Hoey Investments Inc. now owns 775 shares of the real estate investment trust's stock worth $145,000 after purchasing an additional 200 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in Simon Property Group by 9.3% in the 1st quarter. Resonant Capital Advisors LLC now owns 1,783 shares of the real estate investment trust's stock worth $333,000 after buying an additional 152 shares during the last quarter. Swedbank AB boosted its holdings in Simon Property Group by 0.5% in the 1st quarter. Swedbank AB now owns 181,754 shares of the real estate investment trust's stock worth $33,903,000 after buying an additional 864 shares during the last quarter. Integrated Advisors Network LLC increased its stake in Simon Property Group by 38.7% during the 1st quarter. Integrated Advisors Network LLC now owns 26,651 shares of the real estate investment trust's stock worth $4,971,000 after buying an additional 7,434 shares in the last quarter. Finally, Abel Hall LLC purchased a new stake in Simon Property Group during the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. Barclays increased their target price on Simon Property Group from $212.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Jefferies Financial Group upgraded Simon Property Group to a "strong-buy" rating in a research report on Friday, June 26th. Evercore set a $215.00 price objective on Simon Property Group in a research note on Tuesday. Stifel Nicolaus raised their price objective on Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. Finally, Citigroup raised their price objective on Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $211.93.

Simon Property Group Stock Down 3.4%

SPG stock opened at $219.53 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The firm has a 50-day moving average of $210.62 and a two-hundred day moving average of $198.50. Simon Property Group, Inc. has a 12 month low of $159.33 and a 12 month high of $229.59. The company has a market cap of $71.19 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 4.11 and a beta of 1.29.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group's dividend payout ratio is presently 62.54%.

Insider Buying and Selling

In related news, Director Larry C. Glasscock purchased 397 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the acquisition, the director directly owned 45,902 shares in the company, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Rodkin purchased 256 shares of the stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the transaction, the director owned 21,016 shares in the company, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,387 shares of company stock worth $533,056 over the last quarter. Corporate insiders own 8.73% of the company's stock.

Simon Property Group Company Profile

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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