The Manufacturers Life Insurance Company Has $55.59 Million Position in Simon Property Group, Inc. $SPG

The Manufacturers Life Insurance Company boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,541 shares of the real estate investment trust’s stock after acquiring an additional 2,902 shares during the period. The Manufacturers Life Insurance Company’s holdings in Simon Property Group were worth $55,586,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in shares of Simon Property Group by 20,284.8% during the 2nd quarter. California State Teachers Retirement System now owns 105,279,435 shares of the real estate investment trust’s stock worth $23,545,746,000 after purchasing an additional 104,762,975 shares in the last quarter. BlackRock Inc. raised its stake in Simon Property Group by 1.2% in the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock valued at $8,335,255,000 after purchasing an additional 455,543 shares in the last quarter. State Street Corp lifted its position in 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 worth $4,084,730,000 after purchasing an additional 312,995 shares during the period. Geode Capital Management LLC lifted its position in 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 worth $1,950,967,000 after purchasing an additional 363,337 shares during the period. Finally, Wellington Management Group LLP grew its stake in Simon Property Group by 2.7% during the second 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 buying an additional 242,709 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Daniel Smith purchased 372 shares of the stock in a transaction dated Tuesday, June 30th. The stock was bought 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 of the company’s stock, valued at approximately $7,699,728.80. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry Glasscock purchased 397 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was purchased 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 directly owned 45,902 shares in the company, valued at $10,253,588.76. The trade was a 0.87% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on SPG shares. Barclays raised their target price on shares of Simon Property Group from $213.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. Weiss Ratings upgraded shares of Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 12th. Jefferies Financial Group raised shares of Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. UBS Group boosted their price objective on shares of Simon Property Group from $199.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Piper Sandler upped their target price on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $228.14.

Simon Property Group Stock Up 0.2%

Shares of NYSE SPG opened at $205.10 on Friday. The company has a market cap of $66.36 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 3.08 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group, Inc. has a 12 month low of $172.19 and a 12 month high of $238.50. The stock has a 50-day moving average price of $220.74 and a two-hundred day moving average price of $208.72.

Simon Property Group (NYSE:SPG) last posted 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $1.70 earnings per share. The company’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, analysts forecast that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business 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 $2.25 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. Simon Property Group’s dividend payout ratio (DPR) is currently 63.47%.

Simon Property Group Company 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 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.