Ameriprise Financial Inc. Has $268.50 Million Holdings in Simon Property Group, Inc. $SPG

Ameriprise Financial Inc. grew its position in Simon Property Group, Inc. (NYSE:SPG) by 4.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,434,912 shares of the real estate investment trust’s stock after acquiring an additional 60,722 shares during the period. Ameriprise Financial Inc. owned 0.44% of Simon Property Group worth $268,502,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Simon Property Group in the 2nd quarter valued at approximately $1,051,262,000. Wellington Management Group LLP raised its stake in shares of Simon Property Group by 634.5% during the third quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock valued at $1,383,145,000 after acquiring an additional 6,366,711 shares during the last quarter. Capital World Investors raised its stake in shares of Simon Property Group by 45.0% during the third quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock valued at $1,573,450,000 after acquiring an additional 2,600,508 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Simon Property Group by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Simon Property Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after purchasing an additional 844,190 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the acquisition, the director owned 53,639 shares of the company’s stock, valued at approximately $9,976,854. This represents a 0.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glyn Aeppel acquired 216 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, with a total value of $40,176.00. Following the transaction, the director owned 19,481 shares in the company, valued at approximately $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 2,192 shares of company stock valued at $407,712. 8.60% of the stock is owned by insiders.

Simon Property Group Price Performance

SPG stock opened at $189.32 on Tuesday. The firm has a market cap of $61.52 billion, a price-to-earnings ratio of 13.35, a PEG 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. The company’s fifty day simple moving average is $192.39 and its 200 day simple moving average is $185.68.

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

Simon Property Group announced that its board has approved a share repurchase program on Thursday, February 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Tuesday, March 10th. Simon Property Group’s payout ratio is presently 62.06%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPG. Morgan Stanley set a $205.00 target price on Simon Property Group in a research report on Friday, January 16th. Citigroup upped their price target on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Mizuho set a $192.00 price target on Simon Property Group in a research note on Friday, January 9th. Truist Financial raised their price objective on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Finally, Stifel Nicolaus lifted their price objective on Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, February 3rd. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $199.36.

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.