Simon Property Group, Inc. $SPG Stock: M&G PLC Decreases Holdings

M&G PLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 27.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,783 shares of the real estate investment trust’s stock after selling 3,283 shares during the quarter. M&G PLC’s holdings in Simon Property Group were worth $1,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in Simon Property Group during the second quarter valued at approximately $27,000. Fulcrum Asset Management LLP acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $27,000. Osbon Capital Management LLC bought a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $32,000. Fiduciary Financial Advisors bought a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $34,000. Finally, N.E.W. Advisory Services LLC raised its position in shares of Simon Property Group by 335.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 134 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of SPG opened at $234.81 on Thursday. The company has a market cap of $75.97 billion, a P/E ratio of 16.94, a PEG ratio of 3.58 and a beta of 1.27. The stock has a fifty day moving average price of $209.26 and a 200 day moving average price of $207.50. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.74 and a quick ratio of 1.05. Simon Property Group, Inc. has a 12 month low of $177.88 and a 12 month high of $238.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Thursday, November 5th. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $1.68. Simon Property Group had a return on equity of 78.14% and a net margin of 63.08%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $3.22 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 13.35 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be issued a $2.30 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 3.9%. Simon Property Group’s dividend payout ratio is 64.94%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPG shares. Argus raised their price objective on Simon Property Group from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Citigroup lifted their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Evercore boosted their target price on shares of Simon Property Group from $213.00 to $216.00 in a research note on Wednesday, October 28th. Mizuho increased their target price on shares of Simon Property Group from $211.00 to $226.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Finally, Scotiabank reduced 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 research report on Thursday, September 17th. Nine investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $230.10.

Insider Transactions at Simon Property Group

In other news, Director Stefan Selig acquired 208 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average cost of $202.78 per share, for a total transaction of $42,178.24. Following the transaction, the director directly owned 34,020 shares in the company, valued at $6,898,575.60. This trade represents a 0.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben Leibowitz bought 480 shares of Simon Property Group stock in a transaction on Wednesday, September 30th. The shares were purchased at an average cost of $202.78 per share, with a total value of $97,334.40. Following the completion of the purchase, the director directly owned 56,277 shares in the company, valued at $11,411,850.06. This trade represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,668 shares of company stock worth $338,237 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Simon Property Group Profile

Simon Property Group is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment. The company’s properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.