Mystic Asset Management Inc. Makes New $2.23 Million Investment in Simon Property Group, Inc. $SPG

Mystic Asset Management Inc. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 9,990 shares of the real estate investment trust’s stock, valued at approximately $2,234,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Simon Property Group in the 4th quarter worth about $1,112,111,000. Wellington Management Group LLP grew its position in Simon Property Group by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after buying an additional 569,772 shares during the period. Bank of America Corp DE increased its holdings in Simon Property Group by 6.1% during the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after buying an additional 491,519 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in Simon Property Group during the second quarter worth about $104,281,000. Finally, BlackRock Inc. increased its holdings in Simon Property Group by 1.2% during the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after buying an additional 455,543 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 508 shares of the stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $223.38 per share, with a total value of $113,477.04. Following the completion of the acquisition, the director owned 55,797 shares in the company, valued at $12,463,933.86. This represents a 0.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin acquired 256 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.34 per share, with a total value of $57,175.04. Following the completion of the transaction, the director directly owned 21,016 shares of the company’s stock, valued at $4,693,713.44. This trade represents a 1.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 2,387 shares of company stock worth $533,056 over the last quarter. Insiders own 8.73% of the company’s stock.

Simon Property Group Trading Down 1.3%

Shares of SPG stock opened at $220.33 on Friday. The stock has a market capitalization of $71.29 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 2.78 and a beta of 1.30. The company’s fifty day simple moving average is $223.07 and its two-hundred day simple moving average is $207.05. 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.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.Simon Property Group’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current 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 paid a $2.25 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 annualized dividend and a yield of 4.1%. Simon Property Group’s dividend payout ratio (DPR) is currently 63.47%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. LADENBURG THALM/SH SH boosted their target price on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Barclays raised their price target on shares of Simon Property Group from $213.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings raised Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. Finally, Bank of America raised their target price 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. Two equities 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $223.00.

Simon Property Group Company 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.