Simon Property Group, Inc. $SPG Shares Bought by Saudi Central Bank

Saudi Central Bank grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 88.7% during the second quarter, Holdings Channel reports. The firm owned 22,739 shares of the real estate investment trust’s stock after purchasing an additional 10,689 shares during the quarter. Saudi Central Bank’s holdings in Simon Property Group were worth $5,086,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SPG. Stance Capital LLC acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $26,000. Ancora Advisors LLC purchased a new stake in Simon Property Group during the 2nd quarter worth approximately $27,000. Wilkerson Advisory Group LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $29,000. Osbon Capital Management LLC acquired a new stake in Simon Property Group during the 2nd quarter worth approximately $32,000. Finally, SHP Wealth Management purchased a new position in Simon Property Group in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. Stifel Nicolaus increased their price objective 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. Barclays lifted their target price on Simon Property Group from $213.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. UBS Group boosted their target price on Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Citigroup upped their price target on Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $228.14.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary Rodkin bought 256 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of $223.34 per share, with a total value of $57,175.04. Following the completion of the acquisition, the director directly owned 21,016 shares of the company’s stock, valued at $4,693,713.44. This represents a 1.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel 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 completion of the purchase, the director owned 34,480 shares of the company’s stock, valued at $7,699,728.80. This represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,387 shares of company stock valued at $533,056 over the last ninety days. Company insiders own 8.73% of the company’s stock.

Simon Property Group Stock Up 0.0%

Shares of Simon Property Group stock opened at $209.49 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. The company has a market capitalization of $67.78 billion, a P/E ratio of 14.77, a P/E/G ratio of 3.16 and a beta of 1.28. The company has a 50 day moving average of $222.53 and a 200 day moving average of $208.55.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced 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 is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.3%. Simon Property Group’s payout ratio is presently 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.