Legal & General Group Plc Lowers Stock Holdings in Simon Property Group, Inc. $SPG

Legal & General Group Plc reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,661,790 shares of the real estate investment trust’s stock after selling 86,813 shares during the period. Legal & General Group Plc’s holdings in Simon Property Group were worth $687,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Federated Hermes Inc. increased its stake in shares of Simon Property Group by 68.8% during the second quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock worth $20,081,000 after purchasing an additional 50,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Simon Property Group by 15.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after buying an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Simon Property Group in the 3rd quarter worth about $3,598,000. National Pension Service boosted its holdings in Simon Property Group by 3.2% in the 3rd quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after buying an additional 33,758 shares during the last quarter. Finally, Aew Capital Management L P increased its stake in Simon Property Group by 90.9% during the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock worth $99,494,000 after buying an additional 252,510 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In other news, Director Gary M. Rodkin bought 226 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the acquisition, the director directly owned 19,455 shares of the company’s stock, valued at $3,618,630. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock purchased 363 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, with a total value of $67,518.00. Following the purchase, the director owned 43,899 shares in the company, valued at approximately $8,165,214. This trade represents a 0.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,192 shares of company stock valued at $407,712 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $191.86 on Wednesday. The business’s 50 day moving average price is $192.08 and its 200 day moving average price is $185.39. The company has a market cap of $62.34 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 6.35 and a beta of 1.36. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $205.12.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $3.68 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group announced that its board has initiated a stock repurchase program on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.6%. Simon Property Group’s payout ratio is 62.06%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Tuesday, January 20th. Stifel Nicolaus increased their price objective on Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, February 3rd. Truist Financial lifted their target price on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Barclays upped their target price on shares of Simon Property Group from $188.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $199.36.

About Simon Property Group

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.