Simon Property Group, Inc. (NYSE:SPG) Short Interest Update

Simon Property Group, Inc. (NYSE:SPG) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 7,135,207 shares, a growth of 31.2% from the March 15th total of 5,439,607 shares. Based on an average trading volume of 2,045,768 shares, the days-to-cover ratio is currently 3.5 days. Currently, 2.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPG. Stifel Nicolaus raised their target price on Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, February 3rd. Barclays raised their price target on shares of Simon Property Group from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday. Evercore raised their price target on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a research report on Tuesday, February 3rd. Piper Sandler reissued an “overweight” rating and issued a $230.00 price target (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Finally, Truist Financial raised their price target on shares of Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $200.14.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after buying an additional 286,464 shares in the last quarter. State Street Corp increased its holdings in Simon Property Group by 1.5% in the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after buying an additional 312,995 shares in the last quarter. Geode Capital Management LLC increased its holdings in Simon Property Group by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after buying an additional 363,337 shares in the last quarter. Capital World Investors increased its holdings in Simon Property Group by 2.7% in the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock valued at $1,593,872,000 after buying an additional 226,271 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Simon Property Group by 7.7% in the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after buying an additional 569,772 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 2.5%

Shares of SPG traded up $4.97 during midday trading on Friday, hitting $206.32. The company had a trading volume of 1,344,613 shares, compared to its average volume of 1,670,118. The company’s 50-day simple moving average is $194.00 and its 200-day simple moving average is $186.97. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $67.04 billion, a P/E ratio of 14.55, a P/E/G ratio of 6.63 and a beta of 1.37. Simon Property Group has a 1 year low of $145.84 and a 1 year high of $206.73.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.02. The business had revenue of $1.79 billion during 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 company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. As a group, sell-side analysts expect that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were given a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, March 10th. Simon Property Group’s payout ratio is 62.06%.

Simon Property Group declared that its Board of Directors has initiated a share buyback plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership 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.