Simon Property Group, Inc. $SPG Stake Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 872,777 shares of the real estate investment trust’s stock after selling 85,195 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Simon Property Group worth $175,340,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SPG. Ancora Advisors LLC purchased a new stake in shares of Simon Property Group in the second quarter worth about $27,000. Fulcrum Asset Management LLP purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at about $27,000. Osbon Capital Management LLC purchased a new stake in shares of Simon Property Group during the 2nd quarter valued at about $32,000. Fiduciary Financial Advisors purchased a new stake in shares of Simon Property Group during the 2nd quarter valued at about $34,000. Finally, N.E.W. Advisory Services LLC lifted its position in Simon Property Group by 335.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.5%

NYSE:SPG opened at $233.58 on Friday. The company has a market capitalization of $75.58 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. Simon Property Group, Inc. has a one year low of $177.88 and a one year high of $238.50. The stock has a 50-day simple moving average of $209.73 and a 200 day simple moving average of $207.74. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.05 and a current ratio of 0.74.

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 (EPS) for the quarter, beating the consensus estimate of $1.69 by $1.68. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 63.08%. Simon Property Group’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.22 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, December 10th. Simon Property Group’s dividend payout ratio is currently 64.94%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben Leibowitz purchased 480 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The shares were bought at an average cost of $202.78 per share, for a total transaction of $97,334.40. Following the transaction, the director owned 56,277 shares in the company, valued at $11,411,850.06. This represents a 0.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marta Stewart purchased 199 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, for a total transaction of $40,353.22. Following the completion of the transaction, the director owned 18,199 shares in the company, valued at approximately $3,690,393.22. The trade was a 1.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,668 shares of company stock valued at $338,237 in the last ninety days. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SPG. Barclays decreased their price target on Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, September 28th. Argus lifted their price objective on shares of Simon Property Group from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. BNP Paribas Exane initiated coverage on shares of Simon Property Group in a research report on Friday, October 9th. They set a “neutral” rating and a $222.00 target price on the stock. Truist Financial initiated coverage on shares of Simon Property Group in a research note on Friday, October 2nd. They issued a “hold” rating and a $215.00 target price for the company. Finally, UBS Group upped their target price on shares of Simon Property Group from $205.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $230.10.

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.