Simon Property Group, Inc. $SPG Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.2% in the 1st quarter, Holdings Channel reports. The firm owned 122,633 shares of the real estate investment trust’s stock after purchasing an additional 2,670 shares during the period. QRG Capital Management Inc.’s holdings in Simon Property Group were worth $22,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Simon Property Group by 634.5% during the third quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after buying an additional 6,366,711 shares during the period. Norges Bank acquired a new position in Simon Property Group during the 4th quarter worth about $1,112,111,000. Capital World Investors lifted its stake in Simon Property Group by 45.0% during the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock worth $1,573,450,000 after acquiring an additional 2,600,508 shares in the last quarter. Barclays PLC boosted its holdings in Simon Property Group by 78.9% during the 3rd quarter. Barclays PLC now owns 1,103,843 shares of the real estate investment trust’s stock valued at $207,158,000 after acquiring an additional 486,967 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Simon Property Group by 1,329.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock valued at $86,723,000 after acquiring an additional 435,721 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wolfe Research lowered shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Citigroup raised their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Morgan Stanley upped their target price 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. Evercore set a $208.00 target price on shares of Simon Property Group in a report on Monday, June 8th. Finally, Weiss Ratings cut shares of Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $211.47.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $225.77 on Friday. The stock’s 50-day moving average is $209.31 and its two-hundred day moving average is $197.56. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a 1-year low of $159.33 and a 1-year high of $228.57. The company has a market cap of $73.21 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 4.09 and a beta of 1.29.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business posted $2.95 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Analysts forecast that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a $2.25 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Tuesday, June 9th. Simon Property Group’s payout ratio is presently 62.54%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 508 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.38 per share, with a total value of $113,477.04. Following the transaction, the director owned 55,797 shares in the company, valued at approximately $12,463,933.86. This trade represents a 0.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith acquired 372 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the acquisition, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. This represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 2,387 shares of company stock valued at $533,056 over the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

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.