Simon Property Group, Inc. $SPG Shares Sold by Summit Global Investments

Summit Global Investments reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 75.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,975 shares of the real estate investment trust’s stock after selling 12,065 shares during the quarter. Summit Global Investments’ holdings in Simon Property Group were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $1,112,111,000. Wellington Management Group LLP increased its stake in shares of Simon Property Group by 7.7% during the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock worth $1,469,748,000 after purchasing an additional 569,772 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Simon Property Group by 1,329.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock worth $86,723,000 after purchasing an additional 435,721 shares in the last quarter. Bbfit Investments PTE Ltd. acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $80,060,000. Finally, Geode Capital Management LLC raised its position in shares of Simon Property Group by 3.6% during the 4th 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 last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel C. Smith purchased 372 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average price of $223.31 per share, with a total value of $83,071.32. Following the completion of the purchase, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marta R. Stewart purchased 182 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.16 per share, for a total transaction of $40,615.12. Following the purchase, the director owned 18,000 shares of the company’s stock, valued at $4,016,880. This trade represents a 1.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Evercore set a $215.00 target price on Simon Property Group in a report on Tuesday, July 7th. Wolfe Research cut Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Stifel Nicolaus upped their price objective on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Piper Sandler increased their price objective on Simon Property Group from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Bank of America lifted their price objective on Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $216.14.

Simon Property Group Stock Performance

Simon Property Group stock opened at $226.29 on Thursday. The firm has a market capitalization of $73.38 billion, a P/E ratio of 15.73, a PEG ratio of 2.93 and a beta of 1.29. The stock has a fifty day moving average price of $214.89 and a 200 day moving average price of $201.12. Simon Property Group, Inc. has a 52 week low of $159.70 and a 52 week high of $231.52. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current 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 a boost from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend 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 is 62.54%.

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.