Envestnet Asset Management Inc. Sells 33,061 Shares of Simon Property Group, Inc. $SPG

Envestnet Asset Management Inc. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,198 shares of the real estate investment trust’s stock after selling 33,061 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Simon Property Group worth $59,153,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Adell Harriman & Carpenter Inc. boosted its position in shares of Simon Property Group by 15.7% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 13,408 shares of the real estate investment trust’s stock worth $2,516,000 after purchasing an additional 1,823 shares in the last quarter. Hartford Investment Management Co. raised its stake in Simon Property Group by 3.5% during the 3rd quarter. Hartford Investment Management Co. now owns 19,099 shares of the real estate investment trust’s stock worth $3,584,000 after buying an additional 638 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in Simon Property Group by 143.0% in the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 123 shares in the last quarter. Convergence Investment Partners LLC grew its stake in Simon Property Group by 17.7% in the third quarter. Convergence Investment Partners LLC now owns 8,971 shares of the real estate investment trust’s stock valued at $1,684,000 after acquiring an additional 1,347 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Simon Property Group by 7.6% in the third quarter. Jones Financial Companies Lllp now owns 76,322 shares of the real estate investment trust’s stock valued at $14,239,000 after acquiring an additional 5,399 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, February 3rd. Morgan Stanley set a $205.00 price objective on shares of Simon Property Group in a research note on Friday, January 16th. Piper Sandler reissued an “overweight” rating and set a $230.00 target price (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Finally, Citigroup upped their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $197.93.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 480 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, with a total value of $89,280.00. Following the completion of the transaction, the director directly owned 53,639 shares of the company’s stock, valued at $9,976,854. This represents a 0.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stefan M. Selig purchased 201 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, for a total transaction of $37,386.00. Following the transaction, the director directly owned 32,277 shares in the company, valued at approximately $6,003,522. The trade was a 0.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,192 shares of company stock worth $407,712 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Down 1.4%

SPG opened at $196.78 on Tuesday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $201.40. The firm has a market capitalization of $64.24 billion, a P/E ratio of 13.88, a PEG ratio of 7.34 and a beta of 1.39. The company’s 50-day moving average is $185.98 and its 200 day moving average is $180.96. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 1.44.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $3.68 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio is currently 62.06%.

Simon Property Group announced that its Board of Directors has initiated a share buyback plan on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Simon Property Group Company 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.