Payden & Rygel trimmed its position in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 77,050 shares of the real estate investment trust’s stock after selling 2,800 shares during the period. Payden & Rygel’s holdings in Simon Property Group were worth $14,263,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stance Capital LLC bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp grew its holdings in shares of Simon Property Group by 143.0% in the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 123 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $42,000. Camelot Portfolios LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $53,000. Finally, Aventura Private Wealth LLC bought a new stake in Simon Property Group during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Analyst Upgrades and Downgrades
SPG has been the topic of several research analyst reports. Truist Financial boosted their price objective on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Evercore set a $207.00 target price on Simon Property Group in a research note on Tuesday, May 12th. Citigroup boosted their price target on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group increased their price target on shares of Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Stifel Nicolaus raised their price objective on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $203.29.
Simon Property Group Price Performance
Shares of NYSE SPG opened at $200.14 on Tuesday. The stock has a fifty day simple moving average of $195.25 and a two-hundred day simple moving average of $190.29. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.28. The firm has a market cap of $65.04 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 3.62 and a beta of 1.33. 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 – Get Free Report) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $2.25 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.5%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio (DPR) is presently 61.15%.
Simon Property Group declared that its Board of Directors has authorized a share repurchase program on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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.
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