L2 Asset Management LLC Takes $785,000 Position in Simon Property Group, Inc. $SPG

L2 Asset Management LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,508 shares of the real estate investment trust’s stock, valued at approximately $785,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at about $26,000. Wilkerson Advisory Group LLC acquired a new stake in Simon Property Group in the 4th quarter worth about $29,000. Osbon Capital Management LLC acquired a new stake in Simon Property Group in the 2nd quarter worth about $32,000. SHP Wealth Management purchased a new stake in Simon Property Group during the 4th quarter worth approximately $34,000. Finally, Dynamic Wealth Strategies LLC lifted its position in shares of 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 valued at $39,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of several research reports. Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 12th. Citigroup lifted 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 note on Monday, August 17th. LADENBURG THALM/SH SH increased their target price on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Morgan Stanley raised their price target on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Finally, Wolfe Research lowered shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 30th. Two 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $223.00.

Simon Property Group Stock Up 1.1%

NYSE SPG opened at $220.66 on Tuesday. The business’s fifty day simple moving average is $223.18 and its 200-day simple moving average is $207.46. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. The firm has a market cap of $71.40 billion, a PE ratio of 15.56, a P/E/G ratio of 2.72 and a beta of 1.30. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50.

Simon Property Group (NYSE:SPG) last announced 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 net margin of 66.56% and a return on equity of 89.32%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $1.70 EPS. The company’s revenue for the quarter 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. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Announces Dividend

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

Insider Buying and Selling at Simon Property Group

In other news, Director Larry C. Glasscock purchased 397 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the acquisition, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This represents a 0.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel C. Smith purchased 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the transaction, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 2,387 shares of company stock worth $533,056. Insiders own 8.73% of the company’s stock.

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.