Legal & General Group Plc Makes New Investment in Simon Property Group, Inc. $SPG

Legal & General Group Plc bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,505,359 shares of the real estate investment trust’s stock, valued at approximately $783,974,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Vanguard Group Inc. grew its holdings in Simon Property Group by 0.6% during the fourth 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 during the period. BlackRock Inc. raised its stake in shares of Simon Property Group by 1.2% in the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock valued at $8,335,255,000 after buying an additional 455,543 shares during the period. State Street Corp raised its stake in shares of Simon Property Group by 1.5% in the third 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 buying an additional 312,995 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 363,337 shares during the period. Finally, Capital World Investors grew its stake in shares of 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 acquiring an additional 226,271 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SPG shares. UBS Group boosted their price objective on Simon Property Group from $199.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup increased their target price on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Piper Sandler lifted their target price on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Bank of America boosted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, LADENBURG THALM/SH SH upped their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $223.00.

Insider Buying and Selling

In other news, Director Glyn Aeppel bought 243 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of $223.36 per share, with a total value of $54,276.48. Following the completion of the purchase, the director directly owned 21,067 shares in the company, valued at $4,705,525.12. The trade was a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin purchased 256 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the transaction, the director directly owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. This represents a 1.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,387 shares of company stock valued at $533,056 in the last three months. 8.73% of the stock is owned by corporate insiders.

Simon Property Group Trading Up 1.1%

Shares of SPG opened at $220.66 on Tuesday. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year high of $238.50. The company has a market capitalization of $71.40 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.72 and a beta of 1.30. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50 day simple moving average is $223.18 and its 200 day simple moving average is $207.46.

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

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $2.25 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 annualized dividend and a yield of 4.1%. Simon Property Group’s payout ratio is 63.47%.

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.