State Street Corp Decreases Stock Position in Simon Property Group, Inc. $SPG

State Street Corp lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,356,570 shares of the real estate investment trust’s stock after selling 574,739 shares during the period. State Street Corp owned about 0.06% of Simon Property Group worth $4,552,747,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in Simon Property Group by 3.3% during the 4th quarter. Legal & General Group Plc now owns 3,783,976 shares of the real estate investment trust’s stock valued at $700,452,000 after buying an additional 122,186 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Simon Property Group by 3.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 604,773 shares of the real estate investment trust’s stock worth $111,950,000 after acquiring an additional 20,477 shares during the last quarter. Norges Bank bought a new stake in Simon Property Group in the 4th quarter worth $1,112,111,000. Chilton Capital Management LLC increased its position in shares of Simon Property Group by 596.3% in the second quarter. Chilton Capital Management LLC now owns 46,999 shares of the real estate investment trust’s stock valued at $10,511,000 after acquiring an additional 40,249 shares during the period. Finally, Amundi raised its stake in shares of Simon Property Group by 19.0% during the first quarter. Amundi now owns 1,990,741 shares of the real estate investment trust’s stock valued at $371,334,000 after acquiring an additional 317,901 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry Glasscock bought 397 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, with a total value of $88,681.86. Following the completion of the purchase, the director 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary Rodkin bought 256 shares of the stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.34 per share, with a total value of $57,175.04. Following the completion of the acquisition, the director directly owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 2,387 shares of company stock valued at $533,056. Insiders own 8.73% of the company’s stock.

Simon Property Group Stock Up 0.2%

SPG stock traded up $0.34 during midday trading on Tuesday, hitting $205.32. The stock had a trading volume of 222,896 shares, compared to its average volume of 1,649,279. The firm has a market cap of $66.43 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 3.09 and a beta of 1.28. The business has a 50-day moving average of $218.68 and a two-hundred day moving average of $208.88. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. 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 (NYSE:SPG) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 13.23 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid 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 yield of 4.4%. Simon Property Group’s payout ratio is presently 63.47%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPG. Scotiabank reduced their price target on Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Stifel Nicolaus upped their target price on Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Truist Financial lifted their price target on shares of Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Mizuho boosted their price objective on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $228.14.

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.