Oppenheimer Asset Management Inc. Sells 2,680 Shares of Simon Property Group, Inc. $SPG

Oppenheimer Asset Management Inc. cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 23.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,862 shares of the real estate investment trust’s stock after selling 2,680 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Simon Property Group were worth $1,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Norges Bank purchased a new stake in shares of Simon Property Group during the second quarter worth $1,051,262,000. JPMorgan Chase & Co. raised its stake in shares of Simon Property Group by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Simon Property Group during the 2nd quarter worth about $68,013,000. State Street Corp lifted its holdings in Simon Property Group by 1.1% during the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock worth $3,448,703,000 after purchasing an additional 228,819 shares in the last quarter. Finally, Aviva PLC boosted its stake in Simon Property Group by 698.3% in the 2nd quarter. Aviva PLC now owns 243,931 shares of the real estate investment trust’s stock worth $39,214,000 after purchasing an additional 213,374 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of several analyst reports. Citigroup upped their price target on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Barclays reaffirmed a “positive” rating and set a $188.00 price objective on shares of Simon Property Group in a research note on Tuesday, January 13th. UBS Group raised their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Tuesday, January 20th. Finally, Mizuho set a $192.00 price objective on Simon Property Group in a research report on Friday, January 9th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $197.93.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $196.86 on Friday. The company’s fifty day moving average price is $186.97 and its 200-day moving average price is $181.55. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 1.44. The firm has a market capitalization of $64.27 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 7.03 and a beta of 1.39. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $201.40.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $3.68 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 62.06%.

Simon Property Group declared that its Board of Directors has initiated a share buyback plan on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the completion of the transaction, the director directly owned 53,639 shares of the company’s stock, valued at approximately $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stefan M. Selig purchased 201 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $37,386.00. Following the completion of the purchase, the director directly owned 32,277 shares of the company’s stock, valued at approximately $6,003,522. This represents a 0.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,192 shares of company stock worth $407,712 over the last ninety days. Corporate insiders own 8.66% of the company’s stock.

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.