3,283 Simon Property Group, Inc. $SPG Shares Sold by M&G PLC

M&G PLC lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,783 shares of the real estate investment trust’s stock after selling 3,283 shares during the quarter. M&G PLC’s holdings in Simon Property Group were worth $1,765,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vestor Capital LLC increased its holdings in shares of Simon Property Group by 33,057.2% during the third quarter. Vestor Capital LLC now owns 62,004 shares of the real estate investment trust’s stock valued at $12,448,000 after purchasing an additional 61,817 shares during the period. AlphaCore Capital LLC lifted its holdings in Simon Property Group by 69.2% in the third quarter. AlphaCore Capital LLC now owns 3,827 shares of the real estate investment trust’s stock worth $768,000 after purchasing an additional 1,565 shares during the period. Fulcrum Asset Management LLP acquired a new stake in Simon Property Group in the third quarter worth about $27,000. M Holdings Securities Inc. acquired a new stake in Simon Property Group in the third quarter worth about $275,000. Finally, StoneX Group Inc. lifted its holdings in Simon Property Group by 27.1% in the third quarter. StoneX Group Inc. now owns 1,321 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.1%

SPG opened at $234.81 on Thursday. Simon Property Group, Inc. has a one year low of $177.88 and a one year high of $238.50. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.05 and a current ratio of 0.74. The stock’s fifty day moving average is $209.26 and its 200-day moving average is $207.50. The company has a market capitalization of $75.97 billion, a PE ratio of 16.94, a P/E/G ratio of 3.58 and a beta of 1.27.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $3.37 earnings per share for the quarter, beating the consensus estimate of $1.69 by $1.68. Simon Property Group had a return on equity of 78.14% and a net margin of 63.08%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm posted $3.22 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 13.35 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 3.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 64.94%.

Analysts Set New Price Targets

Several equities analysts have commented on SPG shares. Piper Sandler lowered their target price on shares of Simon Property Group from $285.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Evercore boosted their price target on shares of Simon Property Group from $213.00 to $216.00 in a research report on Wednesday, October 28th. Truist Financial assumed coverage on shares of Simon Property Group in a research note on Friday, October 2nd. They issued a “hold” rating and a $215.00 price target for the company. Mizuho upped their price target on shares of Simon Property Group from $211.00 to $226.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Finally, Ladenburg Thalmann & Co. Inc. increased their price objective on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $230.10.

Insider Buying and Selling

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

Simon Property Group Company Profile

Simon Property Group is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment. The company’s properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.