Corient Private Wealth LP Increases Stock Position in Simon Property Group, Inc. $SPG

Corient Private Wealth LP increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 74.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,273 shares of the real estate investment trust’s stock after buying an additional 39,245 shares during the period. Corient Private Wealth LP’s holdings in Simon Property Group were worth $20,636,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Simon Property Group in the fourth quarter valued at $295,000. Marshall Wace LLP raised its stake in shares of Simon Property Group by 316.2% during the 2nd quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock valued at $3,181,000 after purchasing an additional 15,033 shares during the period. Jump Financial LLC lifted its holdings in Simon Property Group by 80.1% during the 2nd quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock worth $2,714,000 after purchasing an additional 7,506 shares in the last quarter. Cerity Partners LLC lifted its holdings in Simon Property Group by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock worth $5,745,000 after purchasing an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Simon Property Group by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock worth $4,573,000 after purchasing an additional 3,372 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $214.65 on Friday. The company’s fifty day moving average price is $223.52 and its 200-day moving average price is $207.92. 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 has a market capitalization of $69.45 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 2.68 and a beta of 1.30. Simon Property Group, Inc. has a one year low of $172.19 and a one year high of $238.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 annualized dividend and a yield of 4.2%. Simon Property Group’s payout ratio is 63.47%.

Insider Activity

In other Simon Property Group news, Director Daniel C. Smith purchased 372 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the transaction, the director directly owned 34,480 shares of the company’s stock, valued at approximately $7,699,728.80. The trade was a 1.09% 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 bought 256 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the acquisition, the director owned 21,016 shares in the company, valued at $4,693,713.44. The trade was a 1.23% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler lifted their target price on Simon Property Group from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Stifel Nicolaus raised their price objective on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Wolfe Research cut shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 30th. Finally, Evercore set a $215.00 price objective on Simon Property Group in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $225.27.

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.