Simon Property Group, Inc. $SPG Stock Sold by Soltis Investment Advisors LLC

by · The Markets Daily

Soltis Investment Advisors LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 86.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,696 shares of the real estate investment trust’s stock after selling 24,155 shares during the period. Soltis Investment Advisors LLC’s holdings in Simon Property Group were worth $742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Simon Property Group by 13,579.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust’s stock valued at $806,167,000 after acquiring an additional 3,578,240 shares in the last quarter. Legal & General Group Plc acquired a new position in Simon Property Group during the 2nd quarter worth $783,974,000. Canada Pension Plan Investment Board acquired a new position in Simon Property Group during the 2nd quarter worth $489,647,000. Caisse de depot et placement du Quebec bought a new position in shares of Simon Property Group in the second quarter worth $143,948,000. Finally, Bank of America Corp DE grew its stake in shares of Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after purchasing an additional 491,519 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Up 1.0%

NYSE SPG opened at $217.84 on Friday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $207.21 and its 200 day simple moving average is $205.73. Simon Property Group, Inc. has a 12 month low of $172.19 and a 12 month high of $238.50. The company has a market capitalization of $70.48 billion, a P/E ratio of 15.36, a PEG ratio of 3.35 and a beta of 1.30.

Simon Property Group (NYSE:SPG – Get Free Report) last released 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 business had revenue of $1.79 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities research analysts expect that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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

Insider Activity at Simon Property Group

In related news, Director Daniel Smith acquired 350 shares of the business’s 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 $70,973.00. Following the transaction, the director owned 34,830 shares of the company’s stock, valued at approximately $7,062,827.40. The trade was a 1.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reuben Leibowitz acquired 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, with a total value of $97,334.40. Following the completion of the purchase, the director owned 56,277 shares in the company, valued at approximately $11,411,850.06. This represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 1,668 shares of company stock worth $338,237. 8.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays lowered their price target on Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, September 28th. Citigroup upped their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Scotiabank decreased their target price on shares of Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating for the company in a research report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a research note on Thursday, July 9th. Finally, Piper Sandler dropped their price target on shares of Simon Property Group from $285.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.07.

Read Our Latest Research Report on SPG

About Simon Property Group

(Free Report)

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops, and operates premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve both local shoppers and visitors.

The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.

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