Alliancebernstein L.P. Sells 14,778 Shares of Simon Property Group, Inc. $SPG

Alliancebernstein L.P. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 780,562 shares of the real estate investment trust’s stock after selling 14,778 shares during the period. Alliancebernstein L.P. owned about 0.24% of Simon Property Group worth $146,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SPG. Brighton Jones LLC acquired a new position in Simon Property Group during the fourth quarter worth $295,000. Foundations Investment Advisors LLC lifted its holdings in shares of Simon Property Group by 9.8% during the second quarter. Foundations Investment Advisors LLC now owns 19,822 shares of the real estate investment trust’s stock valued at $3,187,000 after acquiring an additional 1,775 shares during the period. Creative Planning boosted its stake in shares of Simon Property Group by 11.5% in the 2nd quarter. Creative Planning now owns 97,650 shares of the real estate investment trust’s stock valued at $15,698,000 after purchasing an additional 10,058 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Simon Property Group by 24.4% in the 2nd quarter. Cetera Investment Advisers now owns 56,932 shares of the real estate investment trust’s stock valued at $9,152,000 after purchasing an additional 11,156 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Simon Property Group by 11.8% in the 2nd quarter. Intech Investment Management LLC now owns 35,685 shares of the real estate investment trust’s stock worth $5,737,000 after purchasing an additional 3,759 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.3%

Shares of NYSE SPG opened at $189.32 on Tuesday. The firm’s 50-day simple moving average is $192.39 and its 200 day simple moving average is $185.68. The company has a market cap of $61.52 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 6.16 and a beta of 1.35. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 4.42. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $205.12.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share 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 analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $3.68 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, March 10th. Simon Property Group’s payout ratio is 62.06%.

Simon Property Group declared that its board has initiated a stock repurchase 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of recent analyst reports. Mizuho set a $192.00 target price on shares of Simon Property Group in a research report on Friday, January 9th. Citigroup boosted their price target on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Evercore upped their price objective on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 3rd. Stifel Nicolaus raised their price objective on shares of Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, February 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $230.00 target price (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $199.36.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel acquired 216 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, with a total value of $40,176.00. Following the acquisition, the director owned 19,481 shares in the company, valued at $3,623,466. This represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary M. Rodkin acquired 226 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $42,036.00. Following the completion of the transaction, the director directly owned 19,455 shares in the company, valued at approximately $3,618,630. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,192 shares of company stock worth $407,712 over the last ninety days. 8.60% of the stock is currently owned by insiders.

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.