Pasadena Private Wealth LLC Buys New Stake in Simon Property Group, Inc. $SPG

Pasadena Private Wealth LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, Holdings Channel.com reports. The fund bought 12,042 shares of the real estate investment trust’s stock, valued at approximately $2,229,000.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Brighton Jones LLC acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $295,000. Marshall Wace LLP increased its holdings in 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 last quarter. Jump Financial LLC increased its holdings in 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 last quarter. Cerity Partners LLC increased its holdings in 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 last quarter. Finally, NewEdge Advisors LLC increased its holdings in 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 last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $206.94 on Friday. The stock has a market cap of $67.11 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 3.74 and a beta of 1.33. The company has a fifty day simple moving average of $197.59 and a 200-day simple moving average of $191.78. Simon Property Group, Inc. has a 12-month low of $155.44 and a 12-month high of $208.79. 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) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Equities analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group declared that its board has initiated a stock repurchase plan on Thursday, February 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $2.25 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, June 9th. Simon Property Group’s payout ratio is currently 61.15%.

Wall Street Analyst Weigh In

SPG has been the subject of several research reports. UBS Group lifted their target price on shares of Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Weiss Ratings upgraded shares of Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Truist Financial boosted their price target on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Scotiabank boosted their price target on shares of Simon Property Group from $192.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. One research 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 company. According to data from MarketBeat.com, 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.