OVERSEA CHINESE BANKING Corp Ltd Buys New Holdings in Simon Property Group, Inc. $SPG

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 57,597 shares of the real estate investment trust’s stock, valued at approximately $12,882,000.

Other institutional investors also recently bought and sold shares of the company. Stance Capital LLC acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $26,000. Wilkerson Advisory Group LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth $29,000. N.E.W. Advisory Services LLC raised its holdings in shares of Simon Property Group by 335.0% during the second quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. WPG Advisers LLC raised its holdings in shares of Simon Property Group by 40.3% during the second quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Finally, SHP Wealth Management purchased a new position in shares of Simon Property Group during the fourth quarter worth $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 1.3%

SPG opened at $220.33 on Friday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $223.07 and its two-hundred day simple moving average is $207.05. The firm has a market capitalization of $71.29 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 2.78 and a beta of 1.30. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year high of $238.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.15). The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. Simon Property Group’s payout ratio is 63.47%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upped their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a report on Monday, June 29th. Truist Financial lifted their price objective on Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group raised Simon Property Group to a “strong-buy” rating in a report on Friday, June 26th. Scotiabank upped their target price on Simon Property Group from $220.00 to $222.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Piper Sandler upped their target price on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $223.00.

Insider Activity at Simon Property Group

In other news, Director Gary M. Rodkin bought 256 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the acquisition, the director directly owned 21,016 shares of the company’s stock, valued at $4,693,713.44. This trade represents a 1.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock purchased 397 shares of the company’s stock in a transaction dated 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 purchase, the director owned 45,902 shares in the company, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,387 shares of company stock valued at $533,056 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Simon Property Group 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.