Summit Global Investments Trims Stock Position in Simon Property Group, Inc. $SPG

Summit Global Investments trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 75.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,975 shares of the real estate investment trust’s stock after selling 12,065 shares during the quarter. Summit Global Investments’ holdings in Simon Property Group were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SPG. Vanguard Group Inc. raised its stake 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 worth $8,694,610,000 after purchasing an additional 286,464 shares during 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 period. Geode Capital Management LLC raised its position in Simon Property Group by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock worth $1,950,967,000 after buying an additional 363,337 shares during the last quarter. Capital World Investors raised its position in 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 during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Simon Property Group by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock worth $1,469,748,000 after acquiring an additional 569,772 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

NYSE:SPG opened at $226.29 on Thursday. 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 fifty-two week low of $159.70 and a fifty-two week high of $231.52. The stock has a market cap of $73.38 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The firm’s fifty day simple moving average is $214.89 and its 200-day simple moving average is $201.12.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $2.95 EPS. The business’s 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 expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Bank of America raised their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Piper Sandler lifted their price objective on Simon Property Group from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial boosted their target price on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley increased their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $216.14.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 508 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $223.38 per share, for a total transaction of $113,477.04. Following the transaction, the director owned 55,797 shares in the company, valued at approximately $12,463,933.86. The trade was a 0.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry C. Glasscock purchased 397 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director directly owned 45,902 shares in the company, valued at approximately $10,253,588.76. This represents a 0.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 2,387 shares of company stock valued at $533,056 in the last 90 days. 8.73% of the stock is owned by corporate insiders.

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.