Rhumbline Advisers Trims Holdings in Simon Property Group, Inc. $SPG

Rhumbline Advisers lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 670,602 shares of the real estate investment trust’s stock after selling 4,802 shares during the quarter. Rhumbline Advisers’ holdings in Simon Property Group were worth $125,852,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Simon Property Group by 0.3% during the second quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock valued at $7,369,128,000 after acquiring an additional 149,314 shares during the period. State Street Corp lifted its position in shares of 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 valued at $3,448,703,000 after acquiring an additional 228,819 shares during the last quarter. Geode Capital Management LLC increased its stake in Simon Property Group by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after purchasing an additional 127,636 shares in the last quarter. Norges Bank acquired a new stake in Simon Property Group during the 2nd quarter worth about $1,051,262,000. Finally, JPMorgan Chase & Co. increased its position in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.7%

Shares of SPG stock opened at $194.89 on Thursday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $201.40. The stock has a market cap of $63.62 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 7.21 and a beta of 1.39. The firm’s 50-day moving average is $186.52 and its 200-day moving average is $181.26. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.44 and a current ratio of 0.90.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, beating 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 business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business earned $3.68 EPS. The firm’s revenue for the quarter 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. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.5%. Simon Property Group’s payout ratio is presently 62.06%.

Simon Property Group announced that its Board of Directors has initiated a share buyback plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

SPG has been the topic of several research analyst reports. Evercore raised their price objective on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 3rd. Barclays reissued a “positive” rating and issued a $188.00 price target on shares of Simon Property Group in a research note on Tuesday, January 13th. Piper Sandler restated an “overweight” rating and issued a $230.00 price objective (up previously from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Scotiabank lifted their price target on shares of Simon Property Group from $186.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. increased their price objective on Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $197.93.

Insiders Place Their Bets

In other news, Director Glyn Aeppel bought 216 shares of the stock in a transaction dated Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the purchase, the director owned 19,481 shares in the company, valued at approximately $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reuben S. Leibowitz purchased 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $89,280.00. Following the completion of the acquisition, the director owned 53,639 shares in the company, valued at $9,976,854. The trade was a 0.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 2,192 shares of company stock worth $407,712 in the last 90 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.