432,500 Shares in Simon Property Group, Inc. $SPG Bought by Bbfit Investments PTE Ltd.

Bbfit Investments PTE Ltd. purchased a new position in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 432,500 shares of the real estate investment trust’s stock, valued at approximately $80,060,000. Simon Property Group comprises about 8.0% of Bbfit Investments PTE Ltd.’s holdings, making the stock its 4th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boothbay Fund Management LLC increased its stake in Simon Property Group by 183.5% during the fourth quarter. Boothbay Fund Management LLC now owns 3,844 shares of the real estate investment trust’s stock valued at $712,000 after purchasing an additional 2,488 shares during the last quarter. Armistice Capital LLC bought a new stake in Simon Property Group during the fourth quarter valued at $211,000. Guggenheim Capital LLC increased its stake in Simon Property Group by 33.4% during the fourth quarter. Guggenheim Capital LLC now owns 11,252 shares of the real estate investment trust’s stock valued at $2,083,000 after purchasing an additional 2,817 shares during the last quarter. Caisse de depot et placement du Quebec increased its stake in Simon Property Group by 11.2% during the fourth quarter. Caisse de depot et placement du Quebec now owns 653,563 shares of the real estate investment trust’s stock valued at $120,981,000 after purchasing an additional 66,041 shares during the last quarter. Finally, DV Equities LLC bought a new stake in Simon Property Group during the fourth quarter valued at $85,000. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Morgan Stanley boosted their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 9th. Truist Financial boosted their target price on shares of Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. Evercore set a $208.00 target price on shares of Simon Property Group in a research note on Monday, June 8th. Finally, Barclays upped their price target on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $205.79.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $209.96 on Thursday. Simon Property Group, Inc. has a twelve month low of $155.92 and a twelve month high of $220.43. 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 company has a market capitalization of $68.09 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 3.89 and a beta of 1.31. The firm has a 50-day moving average of $204.47 and a two-hundred day moving average of $194.42.

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, beating analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company earned $2.95 EPS. Simon Property Group’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. As a group, analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

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 issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, June 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is presently 62.54%.

Simon Property Group Company 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.