Bank of New York Mellon Corp Sells 39,373 Shares of Simon Property Group, Inc. $SPG

Bank of New York Mellon Corp lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,079,177 shares of the real estate investment trust’s stock after selling 39,373 shares during the period. Bank of New York Mellon Corp’s holdings in Simon Property Group were worth $387,829,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Simon Property Group in the fourth quarter worth about $1,112,111,000. Wellington Management Group LLP grew its holdings in shares of Simon Property Group by 7.7% during the 4th 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 purchasing an additional 569,772 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Simon Property Group by 1,329.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock valued at $86,723,000 after purchasing an additional 435,721 shares during the last quarter. Bbfit Investments PTE Ltd. acquired a new position in Simon Property Group during the 4th quarter worth approximately $80,060,000. Finally, Geode Capital Management LLC increased 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 purchasing an additional 363,337 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 0.0%

SPG opened at $228.47 on Friday. Simon Property Group, Inc. has a fifty-two week low of $159.70 and a fifty-two week high of $231.53. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $74.09 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.95 and a beta of 1.29. The company’s 50 day moving average price is $213.40 and its two-hundred day moving average price is $200.15.

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 the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $9.00 annualized dividend and a yield of 3.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is 62.54%.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock bought 397 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $223.38 per share, with a total value of $88,681.86. Following the acquisition, the director owned 45,902 shares of the company’s stock, valued at $10,253,588.76. This represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben S. Leibowitz purchased 508 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $223.38 per share, for a total transaction of $113,477.04. Following the transaction, the director directly owned 55,797 shares in the company, valued at approximately $12,463,933.86. The trade was a 0.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 2,387 shares of company stock worth $533,056 over the last 90 days. Company insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. 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 note on Monday, June 1st. Deutsche Bank Aktiengesellschaft downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective on the stock. in a report on Thursday, July 9th. Morgan Stanley boosted their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. Finally, Evercore set a $215.00 target price on Simon Property Group in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $212.21.

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.