Panagora Asset Management Inc. raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 954,883 shares of the real estate investment trust’s stock after purchasing an additional 96,208 shares during the period. Simon Property Group accounts for 0.6% of Panagora Asset Management Inc.’s portfolio, making the stock its 26th largest holding. Panagora Asset Management Inc.’s holdings in Simon Property Group were worth $176,758,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. Stance Capital LLC bought a new stake in shares of Simon Property Group during the 3rd quarter worth $26,000. Wilkerson Advisory Group LLC bought a new position in Simon Property Group in the 4th quarter worth $29,000. Tompkins Financial Corp bought a new position in Simon Property Group in the 4th quarter worth $42,000. Cullen Frost Bankers Inc. lifted its position in Simon Property Group by 79.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 111 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new position in Simon Property Group during the 4th quarter worth $53,000. Institutional investors own 93.01% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Citigroup increased their target price on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Stifel Nicolaus raised 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. Barclays lifted their price target on Simon Property Group from $201.00 to $212.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. upped their price target on Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $205.79.
Simon Property Group Stock Performance
SPG opened at $218.79 on Monday. The stock’s 50 day simple moving average is $203.01 and its 200-day simple moving average is $193.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The stock has a market cap of $70.95 billion, a PE ratio of 15.20, a P/E/G ratio of 3.96 and a beta of 1.31. Simon Property Group, Inc. has a 1 year low of $155.44 and a 1 year high of $220.44.
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 EPS 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business earned $2.95 earnings per share. Simon Property Group’s quarterly 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. Sell-side analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.
Simon Property Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, June 9th. Simon Property Group’s dividend payout ratio is 62.54%.
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.
Read More
- Five stocks we like better than Simon Property Group
- 3 ETFs Giving Ready-Made Access to the Discounted International Small-Cap Space
- What to Expect From Q2 Earnings as Tech Strength Broadens
- Viasat’s Orbiting Profits: Space Force Jackpot?
- Robinhood Wants a Bigger Role in IPOs—Here’s Why It Matters
Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG – Free Report).
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.
