NewEdge Wealth LLC Cuts Stock Position in Simon Property Group, Inc. $SPG

NewEdge Wealth LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 40.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,726 shares of the real estate investment trust’s stock after selling 4,540 shares during the period. NewEdge Wealth LLC’s holdings in Simon Property Group were worth $1,255,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Stance Capital LLC purchased a new position in shares of Simon Property Group in the 3rd quarter worth $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth about $29,000. SHP Wealth Management purchased a new stake in shares of Simon Property Group during the 4th quarter valued at about $34,000. Cullen Frost Bankers Inc. raised its position in shares of Simon Property Group by 79.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 111 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Simon Property Group in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $229.52 on Monday. The stock has a 50 day moving average price of $215.92 and a 200 day moving average price of $201.73. Simon Property Group, Inc. has a 52-week low of $159.70 and a 52-week high of $231.52. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization 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.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 EPS 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 company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $2.95 EPS. Simon Property Group’s quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group’s payout ratio is presently 62.54%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler lifted their price target on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Bank of America upped their price objective on Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective for the company. in a research note on Thursday, July 9th. Evercore set a $215.00 target price on Simon Property Group in a report on Tuesday, July 7th. Finally, Scotiabank boosted their target price on 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $216.14.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock acquired 397 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director directly owned 45,902 shares of the company’s stock, valued at $10,253,588.76. This represents a 0.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel C. Smith acquired 372 shares of the stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $223.31 per share, with a total value of $83,071.32. Following the completion of the transaction, the director owned 34,480 shares in the company, valued at $7,699,728.80. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 2,387 shares of company stock valued at $533,056. Company insiders own 8.73% 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.