Weiss Asset Management LP Takes Position in Simon Property Group, Inc. $SPG

Key Points

• Weiss Asset Management opened a new position in Simon Property Group during the first quarter, buying 151,181 shares worth about $28.2 million.
• Simon Property Group saw notable insider buying, with directors Marta R. Stewart and Larry C. Glasscock purchasing shares in late June. Insiders bought a total of 2,387 shares over the last 90 days.
• The REIT reported better-than-expected quarterly results, beating EPS and revenue estimates, and it recently raised its dividend to $2.25 per share quarterly, implying a 3.9% yield.

Weiss Asset Management LP bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 151,181 shares of the real estate investment trust's stock, valued at approximately $28,200,000.

Several other large investors have also recently bought and sold shares of the stock. Stance Capital LLC bought a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $26,000. Wilkerson Advisory Group LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $29,000. SHP Wealth Management bought a new position in shares of Simon Property Group in the fourth quarter valued at $34,000. Dynamic Wealth Strategies LLC grew its stake in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 139 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Simon Property Group by 79.3% during the fourth 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 last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other news, Director Marta R. Stewart purchased 182 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of $223.16 per share, with a total value of $40,615.12. Following the acquisition, the director owned 18,000 shares in the company, valued at approximately $4,016,880. This trade represents a 1.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock acquired 397 shares of the firm's stock in a transaction on 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 owned 45,902 shares in the company, valued at approximately $10,253,588.76. This represents a 0.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,387 shares of company stock worth $533,056 in the last 90 days. Company insiders own 8.73% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of recent analyst reports. Citigroup increased their price target 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. Barclays boosted their price objective on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Jefferies Financial Group upgraded Simon Property Group to a "strong-buy" rating in a report on Friday, June 26th. Truist Financial boosted their price target on Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler raised their price objective on Simon Property Group from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average target price of $216.14.

Simon Property Group Stock Performance

Shares of SPG stock opened at $229.52 on Friday. Simon Property Group, Inc. has a 52 week low of $159.70 and a 52 week high of $231.52. The company has a market capitalization of $74.43 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.97 and a beta of 1.29. The company has a 50-day simple moving average of $215.92 and a 200 day simple moving average of $201.60. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business's revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date was Tuesday, June 9th. Simon Property Group's dividend payout ratio is 62.54%.

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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