Simon Property Group, Inc. $SPG Position Reduced by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.2% in the third quarter, HoldingsChannel reports. The firm owned 30,524 shares of the real estate investment trust’s stock after selling 2,382 shares during the period. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $6,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Simon Property Group by 1.2% during the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after purchasing an additional 455,543 shares during the last quarter. Wellington Management Group LLP raised its position in Simon Property Group by 2.7% in the 2nd quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust’s stock worth $2,100,146,000 after purchasing an additional 242,709 shares during the last quarter. Bank of America Corp DE raised its position in 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 worth $1,586,089,000 after purchasing an additional 491,519 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Simon Property Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust’s stock valued at $859,209,000 after buying an additional 105,524 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Simon Property Group by 13,579.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust’s stock worth $806,167,000 after acquiring an additional 3,578,240 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.0%

Simon Property Group stock opened at $217.84 on Friday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day simple moving average of $207.21 and a 200 day simple moving average of $205.73. The stock has a market capitalization of $70.48 billion, a P/E ratio of 15.36, a PEG ratio of 3.35 and a beta of 1.30. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week 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 the consensus estimate 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts expect that Simon Property Group, Inc. will post 13.24 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Wednesday, September 9th. Simon Property Group’s payout ratio is presently 63.47%.

Insiders Place Their Bets

In related news, Director Gary Rodkin purchased 232 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of $202.78 per share, for a total transaction of $47,044.96. Following the completion of the transaction, the director owned 21,248 shares of the company’s stock, valued at approximately $4,308,669.44. This trade represents a 1.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel Smith bought 350 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was purchased at an average cost of $202.78 per share, for a total transaction of $70,973.00. Following the completion of the acquisition, the director owned 34,830 shares in the company, valued at approximately $7,062,827.40. This trade represents a 1.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,668 shares of company stock valued at $338,237 in the last quarter. Company insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPG. Citigroup increased their price target on Simon Property Group from $205.00 to $230.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Mizuho boosted their price target on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. 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 report on Thursday, July 9th. Stifel Nicolaus lifted their price objective on Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Finally, BNP Paribas Exane assumed coverage on shares of Simon Property Group in a research report on Friday, October 9th. They issued a “neutral” rating and a $222.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $224.07.

Simon Property Group Profile

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 other retail properties designed to serve both local shoppers and visitors.

The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.