HighTower Advisors LLC Sells 44,597 Shares of Simon Property Group, Inc. $SPG

HighTower Advisors LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.2% in the second quarter, Holdings Channel reports. The institutional investor owned 1,021,493 shares of the real estate investment trust’s stock after selling 44,597 shares during the period. HighTower Advisors LLC’s holdings in Simon Property Group were worth $228,457,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stance Capital LLC bought a new position in Simon Property Group during the third quarter valued at about $26,000. Wilkerson Advisory Group LLC acquired a new position in Simon Property Group in the 4th quarter valued at approximately $29,000. SHP Wealth Management bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $34,000. Dynamic Wealth Strategies LLC lifted its position in shares of 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 worth $39,000 after acquiring an additional 139 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Simon Property Group by 79.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Stifel Nicolaus boosted 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. Morgan Stanley raised their target price 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. Barclays lifted their price target on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Finally, Bank of America increased their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $221.07.

Insider Activity at Simon Property Group

In other news, Director Daniel C. Smith bought 372 shares of the stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.31 per share, with a total value of $83,071.32. Following the acquisition, the director owned 34,480 shares in the company, valued at $7,699,728.80. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glyn Aeppel bought 243 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of $223.36 per share, with a total value of $54,276.48. Following the transaction, the director directly owned 21,067 shares in the company, valued at $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 2,387 shares of company stock valued at $533,056. Insiders own 8.73% of the company’s stock.

Simon Property Group Trading Down 1.0%

SPG stock opened at $219.34 on Friday. Simon Property Group, Inc. has a 1-year low of $171.22 and a 1-year high of $238.50. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 5.19. The business’s 50 day moving average is $222.30 and its 200-day moving average is $205.94. The firm has a market cap of $71.13 billion, a P/E ratio of 15.47, a P/E/G ratio of 2.84 and a beta of 1.30.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.15). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.Simon Property Group’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, September 9th. Simon Property Group’s dividend payout ratio is currently 63.47%.

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.