Diversify Advisory Services LLC Buys Shares of 5,240 Simon Property Group, Inc. $SPG

Diversify Advisory Services LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, Holdings Channel reports. The firm bought 5,240 shares of the real estate investment trust’s stock, valued at approximately $1,214,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Simon Property Group during the fourth quarter valued at $1,112,111,000. Wellington Management Group LLP lifted its stake in 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 worth $1,469,748,000 after acquiring an additional 569,772 shares during the period. Bank of America Corp DE grew its holdings in Simon Property Group by 6.1% during the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after acquiring an additional 491,519 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Simon Property Group during the 2nd quarter worth about $104,281,000. Finally, BlackRock Inc. grew its holdings in Simon Property Group by 1.2% during the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after acquiring an additional 455,543 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $223.20 on Thursday. The company has a market capitalization of $72.22 billion, a PE ratio of 15.74, a P/E/G ratio of 2.75 and a beta of 1.30. The company has a 50-day simple moving average of $222.96 and a two-hundred day simple moving average of $206.84. Simon Property Group, Inc. has a one year low of $172.19 and a one year high of $238.50. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05.

Simon Property Group (NYSE:SPG) last released its quarterly 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). 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 the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $1.70 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. 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 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 63.47%.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock acquired 397 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the acquisition, the director owned 45,902 shares in the company, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marta R. Stewart acquired 182 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.16 per share, with a total value of $40,615.12. Following the acquisition, the director owned 18,000 shares in the company, valued at approximately $4,016,880. The trade was a 1.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 2,387 shares of company stock valued at $533,056 over the last quarter. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several recent research reports. LADENBURG THALM/SH SH boosted their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Truist Financial lifted their price objective on shares of Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Piper Sandler boosted their price objective on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Citigroup upped their target price on Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wolfe Research cut Simon Property Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $222.87.

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.