NewEdge Wealth LLC Invests $1.47 Million in Simon Property Group, Inc. $SPG

NewEdge Wealth LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,562 shares of the real estate investment trust’s stock, valued at approximately $1,468,000.

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

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock bought 397 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the transaction, the director owned 45,902 shares of the company’s stock, valued at $10,253,588.76. This represents a 0.87% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel C. Smith bought 372 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $223.31 per share, with a total value of $83,071.32. Following the completion of the acquisition, the director owned 34,480 shares of the company’s stock, valued at $7,699,728.80. The trade was a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,387 shares of company stock valued at $533,056 in the last 90 days. 8.73% of the stock is owned by insiders.

Simon Property Group Price Performance

NYSE SPG opened at $218.52 on Friday. The stock has a market capitalization of $70.70 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.74 and a beta of 1.30. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year 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. The business’s fifty day moving average price is $223.06 and its 200-day moving average price is $207.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current 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 issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. Simon Property Group’s dividend payout ratio (DPR) is presently 63.47%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. Truist Financial upped their price target on Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Bank of America increased their price objective on Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Evercore set a $215.00 price objective on Simon Property Group in a report on Tuesday, July 7th. Finally, Barclays upped 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 research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $223.00.

Simon Property Group 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.