PNC Financial Services Group Inc. Has $55.45 Million Position in Simon Property Group, Inc. $SPG

PNC Financial Services Group Inc. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,296 shares of the real estate investment trust’s stock after selling 4,303 shares during the quarter. PNC Financial Services Group Inc. owned 0.09% of Simon Property Group worth $55,455,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SPG. Brighton Jones LLC acquired a new stake in Simon Property Group in the fourth quarter worth $295,000. Marshall Wace LLP increased its position in shares of Simon Property Group by 316.2% in the 2nd quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock valued at $3,181,000 after buying an additional 15,033 shares in the last quarter. Jump Financial LLC increased its position in shares of Simon Property Group by 80.1% in the 2nd quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after buying an additional 7,506 shares in the last quarter. Cerity Partners LLC raised its stake in Simon Property Group by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock worth $5,745,000 after buying an additional 598 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Simon Property Group by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock worth $4,573,000 after buying an additional 3,372 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Glyn Aeppel bought 243 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.36 per share, with a total value of $54,276.48. Following the acquisition, the director owned 21,067 shares in the company, valued at $4,705,525.12. This trade represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz acquired 508 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was 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 owned 55,797 shares of the company’s stock, valued at approximately $12,463,933.86. The trade was a 0.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 2,387 shares of company stock worth $533,056. Corporate insiders own 8.73% of the company’s stock.

Simon Property Group Trading Down 0.5%

NYSE:SPG opened at $225.06 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a twelve month low of $159.70 and a twelve month high of $231.52. The company has a market cap of $72.99 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. The business has a 50 day moving average price of $215.33 and a two-hundred day moving average price of $201.40.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, analysts expect that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a $2.25 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 62.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Evercore set a $215.00 price objective on Simon Property Group in a research report on Tuesday, July 7th. Bank of America raised their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, June 29th. JPMorgan Chase & Co. upped their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective on the stock. in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $216.14.

Simon Property Group Company 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.