Danske Bank A S Purchases New Shares in Simon Property Group, Inc. $SPG

Danske Bank A S acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 197,221 shares of the real estate investment trust’s stock, valued at approximately $44,108,000.

Other institutional investors have also bought and sold shares of the company. Stance Capital LLC bought a new stake in shares of Simon Property Group in the 3rd quarter worth about $26,000. Wilkerson Advisory Group LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $29,000. SHP Wealth Management bought a new position in shares of Simon Property Group in the 4th quarter valued at about $34,000. Dynamic Wealth Strategies LLC grew its position in 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 acquiring an additional 139 shares in the last quarter. Finally, N.E.W. Advisory Services LLC grew its position in Simon Property Group by 335.0% in the second quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.2%

Shares of NYSE:SPG opened at $223.20 on Thursday. The firm has a market capitalization of $72.22 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 2.75 and a beta of 1.30. The business has a 50 day simple moving average of $222.96 and a two-hundred day simple moving average of $206.84. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group’s dividend payout ratio is 63.47%.

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. Truist Financial upped their price objective on Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a research report on Tuesday, June 23rd. Evercore set a $215.00 target price on Simon Property Group in a research report on Tuesday, July 7th. Wolfe Research lowered Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. LADENBURG THALM/SH SH raised their price target on Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Citigroup lifted their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.87.

Insiders Place Their Bets

In related news, Director Larry C. Glasscock bought 397 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.38 per share, with a total value of $88,681.86. Following the completion of the purchase, the director owned 45,902 shares of the company’s stock, valued at $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary M. Rodkin purchased 256 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 2,387 shares of company stock valued at $533,056. Insiders own 8.73% of the company’s stock.

Simon Property Group Company 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.