Legal & General Group Plc Acquires Shares of 3,505,359 Simon Property Group, Inc. $SPG

Legal & General Group Plc acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,505,359 shares of the real estate investment trust’s stock, valued at approximately $783,974,000. Legal & General Group Plc owned approximately 1.08% of Simon Property Group as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPG. PFG Investments LLC grew its position in Simon Property Group by 2.2% in the 1st quarter. PFG Investments LLC now owns 2,341 shares of the real estate investment trust’s stock valued at $437,000 after purchasing an additional 50 shares during the period. WPG Advisers LLC raised its holdings in Simon Property Group by 40.3% during the second quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 52 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in Simon Property Group by 2.3% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust’s stock worth $437,000 after buying an additional 52 shares during the last quarter. Veridan Wealth LLC lifted its stake in shares of Simon Property Group by 1.2% in the fourth quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust’s stock valued at $845,000 after buying an additional 53 shares in the last quarter. Finally, CYBER HORNET ETFs LLC lifted its stake in shares of Simon Property Group by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 55 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 243 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.36 per share, with a total value of $54,276.48. Following the completion of the transaction, the director owned 21,067 shares of the company’s stock, valued at $4,705,525.12. The trade was a 1.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reuben S. Leibowitz purchased 508 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of $223.38 per share, with a total value of $113,477.04. Following the completion of the transaction, the director directly owned 55,797 shares of the company’s stock, valued at $12,463,933.86. The trade was a 0.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 2,387 shares of company stock worth $533,056. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several recent research reports. Scotiabank boosted their target price on shares of Simon Property Group from $220.00 to $222.00 and gave the stock a “sector perform” rating in a research report on Thursday. Citigroup raised their price target on shares of Simon Property Group from $205.00 to $230.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price target for the company. in a research note on Thursday, July 9th. Truist Financial boosted their price objective on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a report on Tuesday, June 23rd. Finally, Morgan Stanley increased their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $223.00.

Simon Property Group Stock Performance

NYSE SPG opened at $220.66 on Tuesday. The company has a fifty day moving average price of $223.18 and a 200-day moving average price of $207.46. The firm has a market cap of $71.40 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 2.72 and a beta of 1.30. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $1.70 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. Simon Property Group’s dividend payout ratio (DPR) is currently 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.