Whittier Trust Co. Sells 70,360 Shares of Simon Property Group, Inc. $SPG

Whittier Trust Co. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 87.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,492 shares of the real estate investment trust’s stock after selling 70,360 shares during the quarter. Whittier Trust Co.’s holdings in Simon Property Group were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Simon Property Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after purchasing an additional 286,464 shares in the last quarter. State Street Corp increased its stake in Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after buying an additional 312,995 shares during the last quarter. Geode Capital Management LLC increased its stake in Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after buying an additional 363,337 shares during the last quarter. Capital World Investors lifted its position in shares of Simon Property Group by 2.7% during the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after buying an additional 226,271 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Simon Property Group by 7.7% in the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after acquiring an additional 569,772 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.1%

Shares of SPG stock opened at $227.37 on Wednesday. The company has a 50 day moving average of $210.26 and a 200-day moving average of $198.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 12-month low of $159.33 and a 12-month high of $229.59. The firm has a market cap of $73.73 billion, a P/E ratio of 15.80, a PEG ratio of 4.07 and a beta of 1.29.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. Simon Property Group’s revenue for the quarter was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Insider Buying and Selling

In other news, Director Daniel C. Smith acquired 372 shares of the stock in a transaction that occurred 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 purchase, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 397 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, with a total value of $88,681.86. Following the transaction, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,387 shares of company stock worth $533,056 in the last quarter. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group raised Simon Property Group to a “strong-buy” rating in a research report on Friday, June 26th. Citigroup upped their price objective on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Scotiabank raised their target price on Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Finally, Wolfe Research cut Simon Property Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $211.93.

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.