Sterling Capital Management LLC Sells 21,930 Shares of Simon Property Group, Inc. $SPG

Sterling Capital Management LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 48.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,675 shares of the real estate investment trust’s stock after selling 21,930 shares during the period. Sterling Capital Management LLC’s holdings in Simon Property Group were worth $4,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. James Investment Research Inc. purchased a new position in Simon Property Group during the 3rd quarter valued at $669,000. Inspire Investing LLC raised its holdings in Simon Property Group by 10.6% in the 3rd quarter. Inspire Investing LLC now owns 60,648 shares of the real estate investment trust’s stock worth $12,176,000 after purchasing an additional 5,829 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Simon Property Group by 0.8% in the 3rd quarter. Yousif Capital Management LLC now owns 45,871 shares of the real estate investment trust’s stock worth $9,209,000 after purchasing an additional 356 shares in the last quarter. Compass Wealth Management LLC purchased a new stake in shares of Simon Property Group in the 3rd quarter worth about $69,000. Finally, Brookstone Capital Management lifted its position in shares of Simon Property Group by 13.5% in the 3rd quarter. Brookstone Capital Management now owns 27,305 shares of the real estate investment trust’s stock worth $5,482,000 after purchasing an additional 3,256 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $211.85 on Friday. 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 firm has a market capitalization of $68.54 billion, a P/E ratio of 14.94, a P/E/G ratio of 3.26 and a beta of 1.30. The business has a fifty day simple moving average of $207.72 and a two-hundred day simple moving average of $211.24. Simon Property Group, Inc. has a 12 month low of $172.19 and a 12 month high of $238.50.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared 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. This represents a $9.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 63.47%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 232 shares of the firm’s 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 completion of the purchase, the director owned 21,248 shares of the company’s stock, valued at approximately $4,308,669.44. This trade represents a 1.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reuben S. Leibowitz bought 480 shares of the stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $202.78 per share, with a total value of $97,334.40. Following the completion of the acquisition, the director directly owned 56,277 shares of the company’s stock, valued at approximately $11,411,850.06. The trade was a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 1,668 shares of company stock worth $338,237 over the last 90 days. 8.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPG. Mizuho boosted their price target on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Weiss Ratings downgraded shares of Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wolfe Research lowered shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Stifel Nicolaus lifted their price objective on Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Finally, Citigroup upped their target price on Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $224.07.

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.