Ascentis Independent Advisors Purchases 2,971 Shares of Simon Property Group, Inc. $SPG

Ascentis Independent Advisors grew its position in Simon Property Group, Inc. (NYSE:SPG) by 45.7% in the first quarter, Holdings Channel.com reports. The fund owned 9,471 shares of the real estate investment trust’s stock after buying an additional 2,971 shares during the period. Ascentis Independent Advisors’ holdings in Simon Property Group were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SPG. Clark Capital Management Group Inc. raised its stake in shares of Simon Property Group by 1.7% in the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock valued at $46,361,000 after buying an additional 4,177 shares in the last quarter. Union Bancaire Privee UBP SA boosted its position in shares of Simon Property Group by 22.6% during the 4th quarter. Union Bancaire Privee UBP SA now owns 39,366 shares of the real estate investment trust’s stock valued at $7,287,000 after acquiring an additional 7,266 shares in the last quarter. Danske Bank A S increased its stake in Simon Property Group by 11.1% in the fourth quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust’s stock valued at $35,901,000 after acquiring an additional 19,300 shares during the period. Davis Selected Advisers increased its stake in Simon Property Group by 30.7% in the third quarter. Davis Selected Advisers now owns 76,733 shares of the real estate investment trust’s stock valued at $14,400,000 after acquiring an additional 18,010 shares during the period. Finally, California Public Employees Retirement System increased its stake in Simon Property Group by 3.5% in the third quarter. California Public Employees Retirement System now owns 579,458 shares of the real estate investment trust’s stock valued at $108,747,000 after acquiring an additional 19,608 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.6%

Shares of NYSE SPG opened at $224.78 on Tuesday. Simon Property Group, Inc. has a 1-year low of $159.33 and a 1-year high of $228.57. The company has a 50-day moving average of $209.31 and a two-hundred day moving average of $197.66. The company has a market cap of $72.89 billion, a PE ratio of 15.62, a P/E/G ratio of 4.09 and a beta of 1.29. 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 released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a $2.25 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is 62.54%.

Insider Buying and Selling at Simon Property Group

In other news, Director Daniel C. Smith purchased 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.31 per share, with a total value of $83,071.32. Following the completion of the transaction, the director directly owned 34,480 shares in the company, valued at $7,699,728.80. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Rodkin bought 256 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. This represents a 1.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,387 shares of company stock worth $533,056 over the last ninety days. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Scotiabank raised their price target on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Barclays upped their price objective on Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Morgan Stanley increased their target price on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Citigroup raised their target price on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Evercore set a $208.00 price target on Simon Property Group in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $211.47.

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.