Wealthfront Advisers LLC Boosts Stake in Simon Property Group, Inc. $SPG

Wealthfront Advisers LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.8% in the third quarter, HoldingsChannel.com reports. The fund owned 73,003 shares of the real estate investment trust’s stock after acquiring an additional 7,091 shares during the quarter. Wealthfront Advisers LLC’s holdings in Simon Property Group were worth $13,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 149,314 shares in the last quarter. State Street Corp increased 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 purchasing an additional 228,819 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Simon Property Group by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. Norges Bank bought a new stake in Simon Property Group in the 2nd quarter worth approximately $1,051,262,000. Finally, JPMorgan Chase & Co. boosted its stake in Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after buying an additional 1,660,188 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, February 3rd. Evercore upped their price target on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a research report on Tuesday, February 3rd. Mizuho set a $192.00 price objective on Simon Property Group in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, January 20th. Finally, Truist Financial increased their target price on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $197.93.

Simon Property Group Stock Down 0.1%

Shares of NYSE:SPG opened at $196.36 on Wednesday. The firm has a market capitalization of $64.11 billion, a P/E ratio of 13.85, a P/E/G ratio of 7.22 and a beta of 1.39. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.44 and a current ratio of 0.90. The stock has a 50 day moving average price of $186.26 and a 200-day moving average price of $181.17. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $201.40.

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

Simon Property Group Dividend Announcement

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

Simon Property Group announced that its Board of Directors has approved a stock buyback plan on Thursday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel purchased 216 shares of the business’s stock in a transaction that occurred on 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 purchase, the director directly owned 19,481 shares of the company’s stock, valued at approximately $3,623,466. This represents a 1.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stefan M. Selig acquired 201 shares of the stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, with a total value of $37,386.00. Following the purchase, the director directly owned 32,277 shares of the company’s stock, valued at $6,003,522. The trade was 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 valued at $407,712 over the last three months. 8.60% of the stock is currently owned by corporate insiders.

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.