TD Asset Management Inc Sells 62,358 Shares of Simon Property Group, Inc. $SPG

Key Points

• TD Asset Management reduced its Simon Property Group stake by 27.4%, selling 62,358 shares and retaining 165,057 shares valued at approximately $36.9 million. Institutional investors collectively own 93.01% of SPG.
• Analysts have a consensus “Hold” rating with an average price target of $221.07, while recent targets range from $207 to $275. Simon reported quarterly EPS of $1.49, below expectations, despite revenue of $1.79 billion that exceeded estimates.
• Simon Property Group declared a quarterly dividend of $2.25 per share, equivalent to $9.00 annually and a 4.1% yield. Company directors also purchased shares recently, with insiders acquiring 2,387 shares worth roughly $533,000 over the past 90 days.

TD Asset Management Inc trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,057 shares of the real estate investment trust's stock after selling 62,358 shares during the period. TD Asset Management Inc owned 0.05% of Simon Property Group worth $36,915,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Stance Capital LLC bought a new position in Simon Property Group in the third quarter worth about $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $29,000. SHP Wealth Management purchased a new position in shares of Simon Property Group in the 4th quarter worth approximately $34,000. Dynamic Wealth Strategies LLC grew its position in shares of Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock worth $39,000 after buying an additional 139 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $46,000. Institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

SPG has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Simon Property Group from $199.00 to $222.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Scotiabank lifted their price target on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Wolfe Research downgraded Simon Property Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, June 30th. Morgan Stanley increased their price objective on Simon Property Group from $205.00 to $207.00 and gave the company an "equal weight" rating in a report on Tuesday, June 9th. Finally, LADENBURG THALM/SH SH raised their price objective on Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday. Two equities research 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 company's stock. According to MarketBeat, Simon Property Group has a consensus rating of "Hold" and an average price target of $221.07.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin purchased 256 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the purchase, the director owned 21,016 shares in the company, valued at $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock acquired 397 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the acquisition, the director directly owned 45,902 shares of the company's stock, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,387 shares of company stock worth $533,056 over the last 90 days. Insiders own 8.73% of the company's stock.

Simon Property Group Stock Down 1.0%

NYSE:SPG opened at $219.34 on Friday. The company has a market cap of $71.13 billion, a PE ratio of 15.47, a P/E/G ratio of 2.86 and a beta of 1.30. Simon Property Group, Inc. has a twelve month low of $171.22 and a twelve month high of $238.50. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 5.19. The company's 50 day moving average is $222.30 and its two-hundred day moving average is $205.94.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.15). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group's dividend payout ratio is presently 63.47%.

Simon Property Group 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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