Simon Property Group, Inc. $SPG Shares Sold by Burney Co.

Burney Co. lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.9% during the first quarter, HoldingsChannel reports. The firm owned 21,432 shares of the real estate investment trust’s stock after selling 3,462 shares during the period. Burney Co.’s holdings in Simon Property Group were worth $3,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SPG. Vanguard Group Inc. grew its holdings in Simon Property Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after purchasing an additional 286,464 shares in the last quarter. State Street Corp grew its stake in Simon Property Group by 1.5% during the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after purchasing an additional 312,995 shares in the last quarter. Geode Capital Management LLC increased its holdings in Simon Property Group by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock worth $1,950,967,000 after purchasing an additional 363,337 shares during the last quarter. Capital World Investors increased its holdings in Simon Property Group by 2.7% during the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after purchasing an additional 226,271 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Simon Property Group by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after purchasing an additional 569,772 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 1.1%

Shares of Simon Property Group stock opened at $227.37 on Wednesday. The business has a fifty day simple moving average of $210.26 and a 200-day simple moving average of $198.26. Simon Property Group, Inc. has a fifty-two week low of $159.33 and a fifty-two week high of $229.59. The firm has a market cap of $73.73 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 4.07 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the business earned $2.95 earnings per share. Simon Property Group’s revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is presently 62.54%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 243 shares of the stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the acquisition, the director owned 21,067 shares of the company’s stock, valued at $4,705,525.12. This represents a 1.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry C. Glasscock acquired 397 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $223.38 per share, for a total transaction 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 position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,387 shares of company stock valued at $533,056 in the last ninety days. 8.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on SPG. Jefferies Financial Group upgraded Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. Scotiabank lifted their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Barclays boosted their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Weiss Ratings downgraded Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Finally, UBS Group set a $220.00 target price on Simon Property Group in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $211.93.

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.