Simon Property Group (NYSE:SPG) Reaches New 1-Year High – Time to Buy?

Simon Property Group, Inc. (NYSE:SPG) reached a new 52-week high on Monday . The company traded as high as $203.60 and last traded at $201.1530, with a volume of 58348 shares trading hands. The stock had previously closed at $201.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Mizuho set a $192.00 price target on Simon Property Group in a report on Friday, January 9th. Scotiabank raised their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, February 3rd. Finally, Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $197.93.

Simon Property Group Trading Down 0.3%

The company has a 50 day simple moving average of $189.49 and a 200 day simple moving average of $183.47. The company has a market capitalization of $65.15 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 6.59 and a beta of 1.39. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.44 and a current ratio of 0.90.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $3.68 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.4%. Simon Property Group’s dividend payout ratio is presently 62.06%.

Simon Property Group announced that its Board of Directors has approved 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 363 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, with a total value of $67,518.00. Following the purchase, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. This trade represents a 0.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel C. Smith bought 347 shares of the stock in a transaction dated Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, for a total transaction of $64,542.00. Following the completion of the acquisition, the director owned 32,680 shares in the company, valued at approximately $6,078,480. The trade was a 1.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 2,192 shares of company stock valued at $407,712. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Simon Property Group in the 2nd quarter valued at $1,051,262,000. Wellington Management Group LLP boosted its position in shares of Simon Property Group by 634.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock valued at $1,383,145,000 after acquiring an additional 6,366,711 shares during the last quarter. Capital World Investors boosted its position in shares of Simon Property Group by 45.0% during the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock valued at $1,573,450,000 after acquiring an additional 2,600,508 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. Finally, Vanguard Group Inc. increased its position in Simon Property Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after purchasing an additional 844,190 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

About Simon Property Group

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.