EP Wealth Advisors LLC Invests $533,000 in Simon Property Group, Inc. $SPG

EP Wealth Advisors LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,381 shares of the real estate investment trust’s stock, valued at approximately $533,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heartland Bank & Trust Co bought a new stake in shares of Simon Property Group during the second quarter valued at approximately $347,000. Ieq Capital LLC purchased a new stake in Simon Property Group in the second quarter worth $378,000. Burnham & Co LLC bought a new position in Simon Property Group in the second quarter worth $45,000. Callan Family Office LLC bought a new position in Simon Property Group in the second quarter worth $2,557,000. Finally, Keebeck Wealth Management purchased a new position in Simon Property Group during the second quarter valued at $376,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Bank of America increased their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Evercore set a $215.00 price target on shares of Simon Property Group in a research report on Tuesday, July 7th. Citigroup boosted 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, August 17th. Finally, Piper Sandler boosted their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $223.00.

Simon Property Group Stock Up 1.1%

Shares of NYSE:SPG opened at $220.66 on Tuesday. The stock has a fifty day simple moving average of $223.18 and a two-hundred day simple moving average of $207.46. The stock has a market capitalization of $71.40 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 2.72 and a beta of 1.30. Simon Property Group, Inc. has a 12-month low of $172.19 and a 12-month high of $238.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm posted $1.70 earnings per share. The company’s 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, research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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

Insider Buying and Selling

In other news, Director Gary M. Rodkin acquired 256 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The stock was acquired at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the purchase, the director owned 21,016 shares in the company, valued at $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith bought 372 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $223.31 per share, with a total value of $83,071.32. Following the completion of the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,387 shares of company stock worth $533,056 over the last quarter. 8.73% of the stock is owned by insiders.

Simon Property Group 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.