NewEdge Wealth LLC Acquires New Position in Simon Property Group, Inc. $SPG

NewEdge Wealth LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, Holdings Channel reports. The fund bought 6,562 shares of the real estate investment trust’s stock, valued at approximately $1,468,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Norges Bank bought a new position in shares of Simon Property Group in the fourth quarter worth approximately $1,112,111,000. Wellington Management Group LLP raised its position in shares of Simon Property Group by 7.7% during the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after purchasing an additional 569,772 shares during the period. Bank of America Corp DE lifted its stake in shares of Simon Property Group by 6.1% during the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after buying an additional 491,519 shares in the last quarter. Cardano Risk Management B.V. purchased a new position in shares of Simon Property Group during the 2nd quarter valued at $104,281,000. Finally, BlackRock Inc. boosted its holdings in Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after buying an additional 455,543 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

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

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $218.52 on Friday. The company has a market cap of $70.70 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.74 and a beta of 1.30. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week 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 firm’s fifty day moving average is $223.06 and its two-hundred day moving average is $207.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 net margin of 66.56% and a return on equity of 89.32%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

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

Wall Street Analyst Weigh In

SPG has been the subject of a number of analyst reports. Truist Financial increased their price target on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research note on Tuesday, June 23rd. Morgan Stanley upped their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. UBS Group increased their target price on Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Stifel Nicolaus lifted their target price on Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH boosted their price target on Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $223.00.

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.