Legal & General Group Plc Cuts Stake in Simon Property Group, Inc. $SPG

Legal & General Group Plc reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,661,790 shares of the real estate investment trust’s stock after selling 86,813 shares during the quarter. Legal & General Group Plc owned 1.12% of Simon Property Group worth $687,208,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SPG. Colonial Trust Co SC increased its position in Simon Property Group by 25.7% during the 3rd quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 65 shares during the period. Howard Capital Management Inc. raised its holdings in shares of Simon Property Group by 3.1% in the 3rd quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 66 shares in the last quarter. TIAA Trust National Association lifted its position in shares of Simon Property Group by 3.9% in the 3rd quarter. TIAA Trust National Association now owns 1,774 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 67 shares during the period. Wealth Alliance LLC boosted its holdings in shares of Simon Property Group by 1.9% in the 2nd quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock valued at $618,000 after buying an additional 70 shares in the last quarter. Finally, SageView Advisory Group LLC grew its position in shares of Simon Property Group by 3.5% in the 2nd quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 71 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.5%

Shares of SPG opened at $191.86 on Wednesday. The company has a market capitalization of $62.34 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 6.35 and a beta of 1.36. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $205.12. The stock’s 50-day moving average price is $192.08 and its 200-day moving average price is $185.39. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 4.42.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $3.68 earnings per share. Simon Property Group’s quarterly revenue was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s payout ratio is 62.06%.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin purchased 226 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $42,036.00. Following the completion of the acquisition, the director owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock purchased 363 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the transaction, the director owned 43,899 shares of the company’s stock, valued at $8,165,214. This trade represents a 0.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 2,192 shares of company stock worth $407,712. Insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, February 3rd. Scotiabank lifted their price target on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Evercore upped their price target on Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 3rd. Piper Sandler reiterated an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. Finally, Citigroup upped their price objective on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $199.36.

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.