Mirae Asset Global Investments Co. Ltd. Makes New $21.07 Million Investment in Simon Property Group, Inc. $SPG

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 104,965 shares of the real estate investment trust’s stock, valued at approximately $21,073,000.

Several other hedge funds have also made changes to their positions in the business. Ancora Advisors LLC acquired a new stake in shares of Simon Property Group during the second quarter worth $27,000. Osbon Capital Management LLC purchased a new position in Simon Property Group in the 2nd quarter valued at $32,000. Fiduciary Financial Advisors acquired a new position in Simon Property Group in the 2nd quarter valued at $34,000. Dynamic Wealth Strategies LLC increased its stake in Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 139 shares during the period. Finally, N.E.W. Advisory Services LLC raised its position in Simon Property Group by 335.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank lowered their target price on shares of Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price target for the company. in a report on Thursday, July 9th. Piper Sandler reduced their price objective on shares of Simon Property Group from $285.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Barclays reduced their price objective on shares of Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Finally, LADENBURG THALM/SH SH lifted their price objective on Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $224.07.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of the stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of $202.78 per share, for a total transaction of $97,334.40. Following the acquisition, the director directly owned 56,277 shares of the company’s stock, valued at $11,411,850.06. This represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Gary M. Rodkin purchased 232 shares of the stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, with a total value of $47,044.96. Following the acquisition, the director directly owned 21,248 shares in the company, valued at $4,308,669.44. This trade represents a 1.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 1,668 shares of company stock valued at $338,237 in the last three months. Company insiders own 8.73% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $221.94 on Tuesday. Simon Property Group, Inc. has a 1 year low of $173.80 and a 1 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. The stock’s 50 day moving average price is $207.28 and its 200 day moving average price is $205.91. The firm has a market cap of $71.81 billion, a P/E ratio of 15.65, a PEG ratio of 3.25 and a beta of 1.30.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. The firm’s revenue 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. On average, sell-side analysts expect that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, September 9th. This represents a $9.00 annualized dividend and a yield of 4.1%. Simon Property Group’s dividend payout ratio is 63.47%.

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops, and operates premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve both local shoppers and visitors.

The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.