Simon Property Group, Inc. $SPG Stock Position Raised by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management increased its stake in Simon Property Group by 3.2% in the first quarter, bringing its holdings to 196,311 shares worth about $36 million.
• Insiders were buying shares: Directors Glyn Aeppel and Daniel C. Smith both purchased stock on June 30, and insiders have bought 2,387 shares over the past 90 days.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 and revenue of $1.76 billion, and it raised its quarterly dividend to $2.25 per share.

Resona Asset Management Co. Ltd. increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,311 shares of the real estate investment trust's stock after acquiring an additional 6,055 shares during the quarter. Resona Asset Management Co. Ltd. owned approximately 0.06% of Simon Property Group worth $35,983,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Stance Capital LLC bought a new position in shares of Simon Property Group during the third quarter valued at approximately $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $29,000. SHP Wealth Management acquired a new position in Simon Property Group during the 4th quarter valued at approximately $34,000. Tompkins Financial Corp acquired a new position in Simon Property Group during the 4th quarter valued at approximately $42,000. Finally, Cullen Frost Bankers Inc. boosted its position 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 valued at $46,000 after purchasing an additional 111 shares during the period. Institutional investors own 93.01% of the company's stock.

Insiders Place Their Bets

In related news, Director Glyn Aeppel bought 243 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.36 per share, with a total value of $54,276.48. Following the purchase, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel C. Smith purchased 372 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were bought at an average price of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the transaction, the director directly owned 34,480 shares in the company, valued at $7,699,728.80. This represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company's stock.

Simon Property Group Stock Down 3.4%

SPG opened at $219.53 on Thursday. The stock's 50 day moving average price is $210.62 and its 200 day moving average price is $198.50. 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 cap of $71.19 billion, a P/E ratio of 15.26, a P/E/G ratio of 4.11 and a beta of 1.29. Simon Property Group, Inc. has a 12 month low of $159.33 and a 12 month high of $229.59.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The firm's quarterly 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. As a group, research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $2.25 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a yield of 4.1%. Simon Property Group's dividend payout ratio is currently 62.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SPG shares. Barclays increased their target price on Simon Property Group from $212.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. Truist Financial upped their price target 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. Bank of America increased their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Evercore set a $215.00 price objective on shares of Simon Property Group in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average target price of $211.93.

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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