Simon Property Group, Inc. $SPG Shares Sold by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada sharply reduced its Simon Property Group stake by 95.1% in the first quarter, selling 37,538 shares and leaving it with 1,941 shares valued at about $369,000.
• Despite the selling, institutional ownership remains high, with hedge funds and other institutions owning 93.01% of SPG. Several insiders also bought shares recently, including directors Glyn Aeppel and Gary M. Rodkin.
• Simon Property Group reported better-than-expected quarterly results and raised its dividend to $2.25 per share, equivalent to an annualized yield of 4.0%. Analysts currently have a consensus Hold rating on the stock, with a target price of $211.93.

Whittier Trust Co. of Nevada Inc. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 95.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,941 shares of the real estate investment trust's stock after selling 37,538 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Simon Property Group were worth $369,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SPG. Stance Capital LLC acquired a new stake in shares of Simon Property Group during the third quarter worth $26,000. Wilkerson Advisory Group LLC purchased a new position in Simon Property Group in the 4th quarter worth about $29,000. SHP Wealth Management purchased a new position in Simon Property Group in the 4th quarter worth about $34,000. Tompkins Financial Corp acquired a new stake in Simon Property Group during the 4th quarter worth about $42,000. Finally, Cullen Frost Bankers Inc. raised its holdings in Simon Property Group by 79.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust's stock worth $46,000 after buying an additional 111 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Glyn Aeppel bought 243 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $223.36 per share, with a total value of $54,276.48. Following the purchase, the director directly owned 21,067 shares of the company's stock, valued at approximately $4,705,525.12. This represents a 1.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary M. Rodkin purchased 256 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares in the company, valued at $4,693,713.44. This represents a 1.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 2,387 shares of company stock worth $533,056. Insiders own 8.73% of the company's stock.

Simon Property Group Trading Up 1.1%

NYSE:SPG opened at $227.37 on Wednesday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a fifty-two week low of $159.33 and a fifty-two week high of $229.59. The stock's 50-day moving average is $210.26 and its two-hundred day moving average is $198.26. The stock has a market cap of $73.73 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 4.07 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, beating analysts' consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm's quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research 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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Tuesday, June 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's payout ratio is currently 62.54%.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a "hold" rating in a report on Tuesday, May 12th. Bank of America boosted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a report on Monday, June 29th. Evercore set a $215.00 price target on shares of Simon Property Group in a research report on Tuesday. UBS Group set a $220.00 price objective on shares of Simon Property Group in a research note on Thursday, June 18th. Finally, Truist Financial lifted their price objective on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $211.93.

About Simon Property Group

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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