HighTower Advisors LLC Sells 44,597 Shares of Simon Property Group, Inc. $SPG

HighTower Advisors LLC lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,021,493 shares of the real estate investment trust’s stock after selling 44,597 shares during the quarter. HighTower Advisors LLC’s holdings in Simon Property Group were worth $228,457,000 at the end of the most recent quarter.

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

Simon Property Group Trading Up 0.0%

Shares of SPG stock opened at $209.49 on Monday. 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, Inc. has a 12-month low of $172.19 and a 12-month high of $238.50. The stock has a market capitalization of $67.78 billion, a P/E ratio of 14.77, a P/E/G ratio of 3.16 and a beta of 1.28. The firm’s 50 day moving average is $222.53 and its 200 day moving average is $208.55.

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

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, September 9th. Simon Property Group’s dividend payout ratio is 63.47%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 508 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average cost of $223.38 per share, for a total transaction of $113,477.04. Following the purchase, the director directly owned 55,797 shares in the company, valued at $12,463,933.86. This trade represents a 0.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Rodkin bought 256 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost 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 in the company, valued at $4,693,713.44. This trade represents a 1.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 2,387 shares of company stock valued at $533,056 in the last 90 days. Insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Scotiabank upped their price objective on shares of Simon Property Group from $220.00 to $222.00 and gave the stock a “sector perform” rating in a report on Thursday, August 20th. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Piper Sandler boosted their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Truist Financial increased their price target on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $228.14.

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.