Weiss Asset Management LP Takes Position in Simon Property Group, Inc. $SPG

Weiss Asset Management LP purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 151,181 shares of the real estate investment trust’s stock, valued at approximately $28,200,000.

A number of other large investors have also added to or reduced their stakes in the stock. Stance Capital LLC acquired a new position in Simon Property Group in the 3rd quarter valued at $26,000. Wilkerson Advisory Group LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth $29,000. SHP Wealth Management bought a new position in shares of Simon Property Group in the fourth quarter worth $34,000. Dynamic Wealth Strategies LLC increased its position in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 139 shares during the period. Finally, MV Capital Management Inc. acquired a new position in Simon Property Group in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel C. Smith purchased 372 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of $223.31 per share, with a total value of $83,071.32. Following the acquisition, the director owned 34,480 shares of the company’s stock, valued at $7,699,728.80. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glyn Aeppel acquired 243 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $223.36 per share, with a total value of $54,276.48. Following the completion of the transaction, the director owned 21,067 shares in the company, valued at $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,387 shares of company stock worth $533,056 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several recent analyst reports. Scotiabank upped their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. raised their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Evercore set a $215.00 target price on shares of Simon Property Group in a research report on Tuesday, July 7th. Bank of America upped their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group to a “strong-buy” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $216.14.

Simon Property Group Price Performance

Shares of SPG stock opened at $229.52 on Friday. 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, Inc. has a twelve month low of $159.70 and a twelve month high of $231.52. The company has a market cap of $74.43 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.97 and a beta of 1.29. The business has a fifty day simple moving average of $215.92 and a 200 day simple moving average of $201.60.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the firm posted $2.95 earnings per share. Simon Property Group’s revenue 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, sell-side analysts forecast that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.9%. 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 dividend payout ratio is 62.54%.

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.