Simon Property Group, Inc. $SPG Shares Purchased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 15,481.5% during the first quarter, Holdings Channel reports. The institutional investor owned 4,207 shares of the real estate investment trust’s stock after acquiring an additional 4,180 shares during the period. Prestige Wealth Management Group LLC’s holdings in Simon Property Group were worth $785,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Danske Bank A S grew its holdings in Simon Property Group by 11.1% during the fourth quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust’s stock worth $35,901,000 after acquiring an additional 19,300 shares during the period. Legal & General Group Plc raised its position in Simon Property Group by 3.3% in the fourth quarter. Legal & General Group Plc now owns 3,783,976 shares of the real estate investment trust’s stock worth $700,452,000 after acquiring an additional 122,186 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Simon Property Group by 1,329.4% in 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 acquiring an additional 435,721 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Simon Property Group by 3.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 604,773 shares of the real estate investment trust’s stock valued at $111,950,000 after acquiring an additional 20,477 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Simon Property Group during the 4th quarter valued at about $1,112,111,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a research note on Monday, June 1st. Scotiabank increased their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Jefferies Financial Group raised shares of Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. Truist Financial raised their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a report on Tuesday, June 23rd. Finally, UBS Group lifted 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $216.14.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin purchased 256 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the transaction, the director owned 21,016 shares in the company, valued at $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel C. Smith acquired 372 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.31 per share, with a total value of $83,071.32. Following the purchase, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 2,387 shares of company stock valued at $533,056 over the last 90 days. 8.73% of the stock is owned by corporate insiders.

Simon Property Group Trading Down 0.2%

Shares of 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 12 month low of $159.70 and a 12 month high of $231.52. The company has a market cap of $73.38 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 2.93 and a beta of 1.29. The business has a fifty day simple moving average of $214.89 and a 200-day simple moving average of $201.12.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.Simon Property Group’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The company 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. The ex-dividend date was Tuesday, June 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. Simon Property Group’s dividend payout ratio is 62.54%.

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.