CORDA Investment Management LLC. Cuts Stock Position in Simon Property Group, Inc. $SPG

CORDA Investment Management LLC. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,122 shares of the real estate investment trust’s stock after selling 4,332 shares during the quarter. Simon Property Group accounts for approximately 2.6% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 17th biggest position. CORDA Investment Management LLC. owned 0.06% of Simon Property Group worth $37,515,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Del Sette Capital Management LLC increased its stake in Simon Property Group by 7.2% during the first quarter. Del Sette Capital Management LLC now owns 20,225 shares of the real estate investment trust’s stock worth $3,773,000 after purchasing an additional 1,365 shares during the period. Procyon Advisors LLC boosted its stake in shares of Simon Property Group by 52.9% in the first quarter. Procyon Advisors LLC now owns 3,346 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 1,158 shares during the period. LGT Fund Management Co Ltd. purchased a new position in shares of Simon Property Group in the first quarter valued at approximately $9,200,000. Diversify Wealth Management LLC grew its holdings in shares of Simon Property Group by 244.2% in the first quarter. Diversify Wealth Management LLC now owns 11,469 shares of the real estate investment trust’s stock valued at $2,295,000 after purchasing an additional 8,137 shares in the last quarter. Finally, Carnegie Investment Counsel acquired a new position in shares of Simon Property Group in the first quarter valued at approximately $210,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of a number of research reports. Wolfe Research lowered shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Weiss Ratings lowered Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Evercore set a $215.00 target price on Simon Property Group in a research note on Tuesday, July 7th. Morgan Stanley increased their price target on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Finally, Scotiabank lifted their price objective on Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $213.07.

Insider Activity

In related news, Director Larry C. Glasscock purchased 397 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.38 per share, with a total value of $88,681.86. Following the completion of the transaction, the director directly owned 45,902 shares in the company, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marta R. Stewart acquired 182 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $223.16 per share, for a total transaction of $40,615.12. Following the acquisition, the director owned 18,000 shares of the company’s stock, valued at approximately $4,016,880. The trade was a 1.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,387 shares of company stock worth $533,056 over the last three months. Company insiders own 8.73% of the company’s stock.

Simon Property Group Trading Down 0.0%

NYSE:SPG opened at $218.71 on Monday. Simon Property Group, Inc. has a 1 year low of $159.33 and a 1 year high of $229.59. The stock has a market cap of $70.92 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.83 and a beta of 1.29. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day simple moving average of $211.32 and a 200-day simple moving average of $198.97.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations 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 revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a dividend of $2.25 per share. The ex-dividend date was Tuesday, June 9th. This represents a $9.00 annualized dividend and a yield of 4.1%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio (DPR) 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.