Simon Property Group, Inc. $SPG Shares Purchased by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers increased its Simon Property Group stake by 12.5% in the second quarter, acquiring 9,481 additional shares for a total holding of 85,468 shares valued at approximately $19.1 million. Institutional investors collectively own 93.01% of SPG.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $222.87. Recent firms raised their price targets, including Piper Sandler to $285 and Bank of America to $236.
• Simon Property Group reported quarterly EPS of $1.49, below the $1.64 consensus estimate, although revenue rose 19.5% year over year to $1.79 billion. The company declared a $2.25 quarterly dividend, equivalent to a 4.1% annualized yield.

Wealthfront Advisers LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,468 shares of the real estate investment trust's stock after buying an additional 9,481 shares during the quarter. Wealthfront Advisers LLC's holdings in Simon Property Group were worth $19,115,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SPG. PFG Investments LLC boosted its position in Simon Property Group by 2.2% during the 1st quarter. PFG Investments LLC now owns 2,341 shares of the real estate investment trust's stock worth $437,000 after purchasing an additional 50 shares during the period. WPG Advisers LLC raised its position in Simon Property Group by 40.3% in the second quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 52 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of Simon Property Group by 2.3% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust's stock worth $437,000 after purchasing an additional 52 shares in the last quarter. Veridan Wealth LLC lifted its stake in shares of Simon Property Group by 1.2% during the fourth quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust's stock worth $845,000 after purchasing an additional 53 shares in the last quarter. Finally, CYBER HORNET ETFs LLC lifted its stake in shares of Simon Property Group by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust's stock worth $173,000 after purchasing an additional 55 shares in the last quarter. 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 recent research reports. Piper Sandler increased their target price on Simon Property Group from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Jefferies Financial Group raised Simon Property Group to a "strong-buy" rating in a research report on Friday, June 26th. Scotiabank upped their price target on Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $194.00 to $209.00 and gave the company a "hold" rating in a research report on Tuesday, August 11th. Finally, Bank of America lifted their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $222.87.

Simon Property Group Trading Down 0.3%

Shares of SPG opened at $221.07 on Wednesday. Simon Property Group, Inc. has a one year low of $172.09 and a one year high of $238.50. The stock has a 50-day moving average price of $222.76 and a 200 day moving average price of $206.61. 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 $71.53 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.74 and a beta of 1.30.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Simon Property Group's revenue for the quarter 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. Sell-side analysts forecast 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 paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, September 9th. Simon Property Group's dividend payout ratio is 63.47%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 508 shares of the business's 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 $113,477.04. Following the purchase, the director owned 55,797 shares in the company, valued at $12,463,933.86. This trade represents a 0.92% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock purchased 397 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, with a total value of $88,681.86. Following the completion of the purchase, the director directly owned 45,902 shares of the company's stock, valued at approximately $10,253,588.76. This represents a 0.87% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 2,387 shares of company stock worth $533,056 over the last 90 days. Company 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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