Simon Property Group, Inc. $SPG Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,797 shares of the real estate investment trust’s stock after selling 5,294 shares during the quarter. Simon Property Group comprises approximately 1.1% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 27th biggest position. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $7,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after buying an additional 286,464 shares during the last quarter. State Street Corp increased its position in shares of Simon Property Group by 1.5% during the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after acquiring an additional 312,995 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Simon Property Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after acquiring an additional 363,337 shares during the last quarter. Capital World Investors raised its stake in shares of Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock valued at $1,593,872,000 after acquiring an additional 226,271 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after acquiring an additional 491,519 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.3%

Shares of SPG opened at $222.56 on Friday. The company’s 50-day simple moving average is $220.80 and its 200-day simple moving average is $204.70. 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, Inc. has a 1 year low of $163.29 and a 1 year high of $238.50. The stock has a market capitalization of $72.17 billion, a PE ratio of 15.47, a P/E/G ratio of 2.88 and a beta of 1.30.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 net margin of 70.60% and a return on equity of 104.54%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date was Tuesday, June 9th. Simon Property Group’s payout ratio is presently 62.54%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. Stifel Nicolaus boosted their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. UBS Group upped their price target on Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Piper Sandler raised their price target on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Barclays raised their price target 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $216.14.

Insiders Place Their Bets

In related news, Director Daniel C. Smith bought 372 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the acquisition, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glyn Aeppel bought 243 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the director owned 21,067 shares of the company’s stock, valued at $4,705,525.12. This trade represents a 1.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company’s stock.

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.