Vestcor Inc Lowers Stock Holdings in Simon Property Group, Inc. $SPG

Vestcor Inc reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,755 shares of the real estate investment trust’s stock after selling 2,647 shares during the quarter. Vestcor Inc’s holdings in Simon Property Group were worth $8,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ontario Teachers Pension Plan Board acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $3,598,000. Clark Capital Management Group Inc. raised its position in shares of Simon Property Group by 1.7% in the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock valued at $46,361,000 after acquiring an additional 4,177 shares during the period. Aew Capital Management L P raised its position in shares of Simon Property Group by 90.9% in the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock valued at $99,494,000 after acquiring an additional 252,510 shares during the period. Varma Mutual Pension Insurance Co raised its position in shares of Simon Property Group by 8.6% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 82,349 shares of the real estate investment trust’s stock valued at $15,454,000 after acquiring an additional 6,500 shares during the period. Finally, Canada Post Corp Registered Pension Plan raised its position in shares of Simon Property Group by 292.1% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 12,728 shares of the real estate investment trust’s stock valued at $2,365,000 after acquiring an additional 9,482 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Evercore set a $207.00 target price on Simon Property Group in a research note on Tuesday, May 12th. Stifel Nicolaus increased their target price on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings cut Simon Property Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Citigroup increased their target price on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $205.57.

Simon Property Group Price Performance

Shares of SPG opened at $210.60 on Friday. The stock has a market capitalization of $68.30 billion, a P/E ratio of 14.64, a P/E/G ratio of 3.73 and a beta of 1.31. Simon Property Group, Inc. has a twelve month low of $155.44 and a twelve month high of $211.23. The company has a 50 day moving average of $200.08 and a 200-day moving average of $192.63. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The company 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 business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal 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 paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.3%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio (DPR) is 61.15%.

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.