Duff & Phelps Investment Management Co. Sells 41,650 Shares of Simon Property Group, Inc. $SPG

Duff & Phelps Investment Management Co. cut its position in Simon Property Group, Inc. (NYSE:SPG) by 4.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 817,943 shares of the real estate investment trust’s stock after selling 41,650 shares during the quarter. Simon Property Group accounts for 1.7% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 12th largest holding. Duff & Phelps Investment Management Co.’s holdings in Simon Property Group were worth $153,503,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new position in shares of Simon Property Group in the second quarter valued at approximately $30,000. Silicon Valley Capital Partners acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc grew its position in Simon Property Group by 205.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Simon Property Group during the 3rd quarter worth approximately $39,000. Finally, Atlantic Union Bankshares Corp increased its holdings in Simon Property Group by 143.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 123 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Morgan Stanley set a $205.00 price objective on Simon Property Group in a research report on Friday, January 16th. Citigroup raised their target price on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $230.00 price target (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Scotiabank increased their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $199.36.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, with a total value of $89,280.00. Following the completion of the purchase, the director directly owned 53,639 shares in the company, valued at approximately $9,976,854. This represents a 0.90% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry C. Glasscock acquired 363 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the acquisition, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. This trade represents a 0.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 2,192 shares of company stock worth $407,712. Insiders own 8.66% of the company’s stock.

Simon Property Group Stock Down 1.4%

Shares of SPG opened at $189.47 on Thursday. The business’s fifty day moving average price is $192.17 and its two-hundred day moving average price is $185.41. The firm has a market capitalization of $61.57 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 6.33 and a beta of 1.36. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $205.12. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90.

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

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s payout ratio is currently 62.06%.

Simon Property Group announced that its board has approved a share repurchase program on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Simon Property Group Company 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.