Simon Property Group, Inc. $SPG Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,216,869 shares of the real estate investment trust’s stock after selling 113,378 shares during the period. Bank of New York Mellon Corp owned about 0.68% of Simon Property Group worth $416,040,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Legacy Wealth Asset Management LLC boosted its position in Simon Property Group by 0.5% during the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after purchasing an additional 66 shares during the last quarter. Wealth Alliance LLC lifted its holdings in shares of Simon Property Group by 1.9% during the 2nd quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock valued at $618,000 after buying an additional 70 shares during the last quarter. SageView Advisory Group LLC grew its stake in shares of Simon Property Group by 3.5% in the 2nd quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 71 shares in the last quarter. William Allan Corp increased its holdings in Simon Property Group by 2.8% in the third quarter. William Allan Corp now owns 2,744 shares of the real estate investment trust’s stock worth $515,000 after buying an additional 76 shares during the last quarter. Finally, Atlas Private Wealth Advisors raised its position in Simon Property Group by 3.9% during the second quarter. Atlas Private Wealth Advisors now owns 2,087 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 79 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith acquired 347 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, with a total value of $64,542.00. Following the completion of the transaction, the director owned 32,680 shares of the company’s stock, valued at approximately $6,078,480. This represents a 1.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin bought 226 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, with a total value of $42,036.00. Following the purchase, the director owned 19,455 shares of the company’s stock, valued at $3,618,630. This trade represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 2,192 shares of company stock worth $407,712. Insiders own 8.66% of the company’s stock.

Simon Property Group Stock Performance

SPG opened at $189.65 on Friday. The firm has a market capitalization of $61.92 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 6.82 and a beta of 1.37. The stock’s 50 day moving average price is $184.63 and its two-hundred day moving average price is $179.20. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $2.20 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.6%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SPG. Piper Sandler upped their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Tuesday, January 20th. Truist Financial raised their price objective on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research note on Wednesday, December 17th. Evercore ISI upped their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Finally, Citigroup lifted their price target on shares of Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $194.64.

Simon Property Group 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.