SMART Wealth LLC Purchases Shares of 2,367 Simon Property Group, Inc. $SPG

SMART Wealth LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,367 shares of the real estate investment trust’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Clark Capital Management Group Inc. grew its stake in shares of Simon Property Group by 1.7% in the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock valued at $46,361,000 after purchasing an additional 4,177 shares during the period. Union Bancaire Privee UBP SA raised its holdings in shares of Simon Property Group by 22.6% in the 4th quarter. Union Bancaire Privee UBP SA now owns 39,366 shares of the real estate investment trust’s stock worth $7,287,000 after buying an additional 7,266 shares in the last quarter. Davis Selected Advisers lifted its position in shares of Simon Property Group by 30.7% during the 3rd quarter. Davis Selected Advisers now owns 76,733 shares of the real estate investment trust’s stock worth $14,400,000 after buying an additional 18,010 shares during the period. Danske Bank A S lifted its position in shares of Simon Property Group by 11.1% during the 4th quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust’s stock worth $35,901,000 after buying an additional 19,300 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Simon Property Group by 3.5% in the 3rd quarter. California Public Employees Retirement System now owns 579,458 shares of the real estate investment trust’s stock valued at $108,747,000 after buying an additional 19,608 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 1.6%

Shares of SPG opened at $223.85 on Wednesday. The company has a market capitalization of $72.59 billion, a P/E ratio of 15.56, a PEG ratio of 4.11 and a beta of 1.31. Simon Property Group, Inc. has a one year low of $159.33 and a one year high of $228.57. The business’s 50 day simple moving average is $208.10 and its 200-day simple moving average is $196.77. 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 (NYSE:SPG) 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 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $2.95 EPS. The business’s 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, sell-side analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost 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%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup upped their price target on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. UBS Group set a $220.00 price objective on Simon Property Group in a report on Thursday, June 18th. Bank of America boosted their target price 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. Scotiabank upped their target price 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. Finally, Evercore set a $208.00 target price on shares of Simon Property Group in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.47.

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.