Mirae Asset Global Investments Co. Ltd. Makes New $21.07 Million Investment in Simon Property Group, Inc. $SPG

Mirae Asset Global Investments Co. Ltd. bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 104,965 shares of the real estate investment trust’s stock, valued at approximately $21,073,000.

Several other large investors have also made changes to their positions in SPG. Profund Advisors LLC grew its position in Simon Property Group by 27.8% during the third quarter. Profund Advisors LLC now owns 4,292 shares of the real estate investment trust’s stock valued at $862,000 after acquiring an additional 934 shares during the period. Vise Technologies Inc. raised its holdings in shares of Simon Property Group by 35.2% in the 3rd quarter. Vise Technologies Inc. now owns 14,841 shares of the real estate investment trust’s stock worth $2,980,000 after purchasing an additional 3,861 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in shares of Simon Property Group by 82.8% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 1,963 shares of the real estate investment trust’s stock worth $394,000 after purchasing an additional 889 shares during the period. Aprio Wealth Management LLC raised its holdings in shares of Simon Property Group by 20.4% in the 3rd quarter. Aprio Wealth Management LLC now owns 3,025 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 513 shares during the period. Finally, LJI Wealth Management LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $263,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPG. Stifel Nicolaus boosted their target price on Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Piper Sandler dropped their target price on shares of Simon Property Group from $285.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Scotiabank cut their price target on shares of Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Evercore set a $216.00 price target on shares of Simon Property Group in a research report on Monday, September 21st. Finally, Weiss Ratings lowered shares of Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $224.07.

Simon Property Group Trading Up 1.9%

NYSE:SPG opened at $221.94 on Tuesday. The business’s 50-day moving average is $207.28 and its two-hundred day moving average is $205.91. The firm has a market capitalization of $71.81 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 3.25 and a beta of 1.30. Simon Property Group, Inc. has a 12 month low of $173.80 and a 12 month 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.

Simon Property Group (NYSE:SPG) last issued its 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 return on equity of 89.32% and a net margin of 66.56%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company earned $1.70 EPS. Simon Property Group’s quarterly revenue 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. Research analysts predict that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 63.47%.

Insider Activity

In related news, Director Gary Rodkin purchased 232 shares of Simon Property Group stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average cost of $202.78 per share, with a total value of $47,044.96. Following the transaction, the director owned 21,248 shares of the company’s stock, valued at approximately $4,308,669.44. The trade was a 1.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marta Stewart purchased 199 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of $202.78 per share, with a total value of $40,353.22. Following the acquisition, the director owned 18,199 shares in the company, valued at $3,690,393.22. This trade represents a 1.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,668 shares of company stock worth $338,237 in the last ninety days. 8.73% of the stock is currently owned by company insiders.

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.