Simon Property Group, Inc. $SPG Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 132.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344,635 shares of the real estate investment trust's stock after buying an additional 196,103 shares during the period. Lazard Asset Management LLC owned 0.11% of Simon Property Group worth $64,285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SPG. Family Manage LLC acquired a new stake in shares of Simon Property Group during the first quarter valued at $1,566,000. Gateway Wealth Partners LLC acquired a new position in Simon Property Group in the 1st quarter valued at about $353,000. Weiss Asset Management LP acquired a new position in Simon Property Group in the 1st quarter valued at about $28,200,000. OMERS ADMINISTRATION Corp lifted its holdings in Simon Property Group by 50.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 20,432 shares of the real estate investment trust's stock valued at $3,811,000 after purchasing an additional 6,830 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in Simon Property Group by 2.5% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 4,707 shares of the real estate investment trust's stock valued at $878,000 after purchasing an additional 114 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In related news, Director Larry C. Glasscock purchased 397 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were bought 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 $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Glyn Aeppel acquired 243 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.36 per share, with a total value of $54,276.48. Following the completion of the purchase, the director directly owned 21,067 shares in the company, valued at approximately $4,705,525.12. This trade represents a 1.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,387 shares of company stock valued at $533,056 over the last 90 days. 8.73% of the stock is currently owned by insiders.

Simon Property Group Stock Up 0.7%

SPG opened at $231.45 on Tuesday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $75.06 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.97 and a beta of 1.29. The business has a 50-day moving average of $216.55 and a two-hundred day moving average of $202.05. Simon Property Group, Inc. has a 12 month low of $159.70 and a 12 month high of $231.73.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data 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. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $2.95 EPS. The company's revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared 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 is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group's payout ratio is 62.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SPG shares. Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price target for the company. in a report on Thursday, July 9th. Citigroup upped their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Scotiabank raised their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 18th. Bank of America raised their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, Morgan Stanley lifted their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $216.14.

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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