Simon Property Group, Inc. (NYSE:SPG – Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $209.92 and last traded at $208.5770, with a volume of 261452 shares trading hands. The stock had previously closed at $206.22.
Analyst Ratings Changes
SPG has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Truist Financial upped their price target on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings lowered Simon Property Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Citigroup upped their price target on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average price target of $205.57.
Get Our Latest Analysis on Simon Property Group
Simon Property Group Stock Up 1.6%
Simon Property Group (NYSE:SPG – Get Free Report) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $2.95 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.
Simon Property Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is currently 62.54%.
Simon Property Group declared that its Board of Directors has authorized a stock repurchase program 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 repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Simon Property Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock worth $8,694,610,000 after purchasing an additional 286,464 shares during the last quarter. State Street Corp increased its position in Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock worth $4,084,730,000 after purchasing an additional 312,995 shares during the last quarter. Geode Capital Management LLC increased its position in Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock worth $1,950,967,000 after purchasing an additional 363,337 shares during the last quarter. Capital World Investors increased its position in Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after purchasing an additional 226,271 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after purchasing an additional 491,519 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.
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.
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