Simon Property Group, Inc. $SPG Position Lifted by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 15,481.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,207 shares of the real estate investment trust’s stock after purchasing an additional 4,180 shares during the period. Prestige Wealth Management Group LLC’s holdings in Simon Property Group were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new position in Simon Property Group in the fourth quarter worth about $295,000. Marshall Wace LLP lifted its holdings in Simon Property Group by 316.2% during the 2nd quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after buying an additional 15,033 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Simon Property Group by 80.1% in the 2nd quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after acquiring an additional 7,506 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Simon Property Group by 1.7% in the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after acquiring an additional 598 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Simon Property Group by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after acquiring an additional 3,372 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Gary M. Rodkin bought 256 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.34 per share, with a total value of $57,175.04. Following the purchase, the director directly owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Reuben S. Leibowitz purchased 508 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, with a total value of $113,477.04. Following the transaction, the director directly owned 55,797 shares in the company, valued at $12,463,933.86. This trade represents a 0.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 2,387 shares of company stock worth $533,056. 8.73% of the stock is owned by company insiders.

Simon Property Group Trading Down 0.2%

Shares of NYSE:SPG opened at $226.29 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The company’s 50-day moving average price is $214.89 and its 200 day moving average price is $201.12. The company has a market cap of $73.38 billion, a PE ratio of 15.73, a P/E/G ratio of 2.93 and a beta of 1.29. Simon Property Group, Inc. has a fifty-two week low of $159.70 and a fifty-two week high of $231.52.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. Simon Property Group’s quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed 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. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 9th. Simon Property Group’s payout ratio is presently 62.54%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank raised their price objective on 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. JPMorgan Chase & Co. upped their target price on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Citigroup raised their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Piper Sandler boosted their price objective on Simon Property Group from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group upped their price objective on Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $216.14.

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.