Simon Property Group, Inc. $SPG Shares Purchased by Legal & General Group Plc

Legal & General Group Plc lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,783,976 shares of the real estate investment trust’s stock after purchasing an additional 122,186 shares during the quarter. Legal & General Group Plc’s holdings in Simon Property Group were worth $700,452,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SPG. Brighton Jones LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at about $295,000. Marshall Wace LLP boosted its position in shares of Simon Property Group by 316.2% in the 2nd quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock valued at $3,181,000 after purchasing an additional 15,033 shares during the period. Jump Financial LLC boosted its position in shares of Simon Property Group by 80.1% in the 2nd quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after purchasing an additional 7,506 shares during the period. Cerity Partners LLC boosted its position in shares of Simon Property Group by 1.7% in the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 598 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Simon Property Group by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after purchasing an additional 3,372 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.0%

Simon Property Group stock opened at $204.50 on Monday. Simon Property Group, Inc. has a twelve month low of $155.44 and a twelve month high of $208.28. The stock has a 50 day moving average of $196.17 and a two-hundred day moving average of $191.10. 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 capitalization of $66.45 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 3.70 and a beta of 1.33.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $2.95 EPS. The firm’s revenue for the quarter 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. As a group, research analysts expect that Simon Property Group, Inc. will post 13.2 earnings per share 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. Stockholders of record on Tuesday, June 9th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.4%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is 61.15%.

Simon Property Group announced that its board has approved a stock repurchase 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 generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Scotiabank increased their price objective on Simon Property Group from $192.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 19th. Stifel Nicolaus increased their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Evercore set a $207.00 price objective on Simon Property Group in a research report on Tuesday, May 12th. Piper Sandler reaffirmed an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Finally, Weiss Ratings raised Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $205.07.

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.