Simon Property Group, Inc. $SPG Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,965 shares of the real estate investment trust’s stock after selling 8,589 shares during the quarter. Bank of Nova Scotia’s holdings in Simon Property Group were worth $10,812,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stance Capital LLC acquired a new stake in Simon Property Group in the 3rd quarter valued at $26,000. Wilkerson Advisory Group LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth about $29,000. SHP Wealth Management purchased a new stake in shares of Simon Property Group in the fourth quarter worth about $34,000. Dynamic Wealth Strategies LLC boosted its position in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 139 shares during the period. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Simon Property Group by 79.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.1%

Shares of NYSE:SPG opened at $229.52 on Monday. The firm has a market cap of $74.43 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.97 and a beta of 1.29. The company has a fifty day simple moving average of $215.92 and a 200 day simple moving average of $201.73. 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, Inc. has a 12-month low of $159.70 and a 12-month high of $231.52.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 13.21 EPS 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. Stockholders of record on Tuesday, June 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 3.9%. Simon Property Group’s dividend payout ratio is 62.54%.

Analyst Ratings Changes

Several research firms recently commented on SPG. Wolfe Research lowered Simon Property Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 30th. Scotiabank increased their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Truist Financial lifted their price objective on shares of Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. Finally, Evercore set a $215.00 target price on shares of Simon Property Group in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $216.14.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 508 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.38 per share, for a total transaction of $113,477.04. Following the completion of the purchase, the director directly owned 55,797 shares of the company’s stock, valued at $12,463,933.86. This represents a 0.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 purchased at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the acquisition, the director owned 21,016 shares in the company, valued at $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by company insiders.

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.