Simon Property Group, Inc. $SPG Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 57,965 shares of the real estate investment trust’s stock after selling 8,589 shares during the period. Bank of Nova Scotia’s holdings in Simon Property Group were worth $10,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Gibbs Wealth Management lifted its stake in Simon Property Group by 36.1% during the first quarter. Gibbs Wealth Management now owns 2,193 shares of the real estate investment trust’s stock worth $409,000 after purchasing an additional 582 shares in the last quarter. Sei Investments Co. increased its position in shares of Simon Property Group by 2.9% in the 1st quarter. Sei Investments Co. now owns 736,026 shares of the real estate investment trust’s stock valued at $137,293,000 after purchasing an additional 20,680 shares during the last quarter. Lido Advisors LLC increased its holdings in Simon Property Group by 1.8% in the first quarter. Lido Advisors LLC now owns 17,417 shares of the real estate investment trust’s stock valued at $3,249,000 after buying an additional 306 shares during the last quarter. State of Wyoming increased its holdings in shares of Simon Property Group by 235.5% in the 1st quarter. State of Wyoming now owns 1,446 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC raised its holdings in Simon Property Group by 195.8% during the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other news, Director Glyn Aeppel bought 243 shares of the stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $223.36 per share, with a total value of $54,276.48. Following the purchase, the director owned 21,067 shares of the company’s stock, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Larry C. Glasscock acquired 397 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the acquisition, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,387 shares of company stock valued at $533,056 in the last 90 days. Insiders own 8.73% of the company’s stock.

Simon Property Group Trading Down 0.1%

Shares of SPG stock opened at $229.52 on Monday. The firm has a 50-day moving average price of $215.92 and a 200 day moving average price of $201.73. Simon Property Group, Inc. has a twelve month low of $159.70 and a twelve month high of $231.52. The company has a market capitalization of $74.43 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.97 and a beta of 1.29. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Research analysts forecast that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date was Tuesday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is 62.54%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler lifted their target price on Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Truist Financial raised their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. Scotiabank boosted their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $216.14.

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.