Kingsview Wealth Management LLC Sells 31,959 Shares of Simon Property Group, Inc. $SPG

Kingsview Wealth Management LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 68.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,835 shares of the real estate investment trust’s stock after selling 31,959 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Simon Property Group were worth $3,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock valued at $8,335,255,000 after buying an additional 455,543 shares during the last quarter. State Street Corp increased its position 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 acquiring an additional 312,995 shares during the period. Geode Capital Management LLC raised its stake in shares of Simon Property Group by 3.6% during the fourth 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 acquiring an additional 363,337 shares during the last quarter. Capital World Investors lifted its holdings in shares of Simon Property Group by 2.7% during the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after purchasing an additional 226,271 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Simon Property Group by 6.1% during the first 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 purchasing an additional 491,519 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Daniel C. Smith purchased 372 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price 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 $7,699,728.80. This trade represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Glyn Aeppel acquired 243 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the purchase, the director directly owned 21,067 shares of the company’s stock, valued at approximately $4,705,525.12. This represents a 1.17% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,387 shares of company stock worth $533,056 in the last quarter. Insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPG shares. Piper Sandler increased 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, July 21st. Bank of America raised their price objective on Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Barclays lifted their price objective on Simon Property Group from $213.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Wolfe Research downgraded shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 30th. Finally, UBS Group boosted their price target on shares of Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $225.27.

Simon Property Group Trading Down 0.1%

NYSE:SPG opened at $214.65 on Friday. Simon Property Group, Inc. has a 12 month low of $172.19 and a 12 month high of $238.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. The stock has a market capitalization of $69.45 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 2.67 and a beta of 1.30. The firm has a fifty day simple moving average of $223.52 and a two-hundred day simple moving average of $207.92.

Simon Property Group (NYSE:SPG) last released 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 return on equity of 89.32% and a net margin of 66.56%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $1.70 EPS. Simon Property Group’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. Analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 63.47%.

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.