Simon Property Group (NYSE:SPG) Reaches New 12-Month High – Here’s What Happened

Simon Property Group, Inc. (NYSE:SPG) shares reached a new 52-week high on Monday . The stock traded as high as $231.73 and last traded at $231.4530, with a volume of 888832 shares trading hands. The stock had previously closed at $229.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Scotiabank raised their price target on Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Weiss Ratings upgraded Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Finally, Stifel Nicolaus upped their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $216.14.

Simon Property Group Stock Performance

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The stock has a market cap of $75.06 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.97 and a beta of 1.29. The stock’s fifty day moving average is $215.92 and its 200-day moving average is $201.73.

Simon Property Group (NYSE:SPG) last posted its 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $2.25 per share. 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 3.9%. The ex-dividend date was Tuesday, June 9th. Simon Property Group’s dividend payout ratio is presently 62.54%.

Insider Activity

In related news, Director Marta R. Stewart purchased 182 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.16 per share, with a total value of $40,615.12. Following the completion of the purchase, the director owned 18,000 shares in the company, valued at $4,016,880. This represents a 1.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary M. Rodkin acquired 256 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.34 per share, with a total value of $57,175.04. Following the transaction, the director directly owned 21,016 shares of the company’s stock, valued at $4,693,713.44. This represents a 1.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 2,387 shares of company stock worth $533,056. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

A number of large investors have recently added to or reduced their stakes in the company. Danske Bank A S lifted its stake in Simon Property Group by 11.1% in the 4th quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust’s stock valued at $35,901,000 after acquiring an additional 19,300 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Simon Property Group by 3.3% during the 4th quarter. Legal & General Group Plc now owns 3,783,976 shares of the real estate investment trust’s stock worth $700,452,000 after acquiring an additional 122,186 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Simon Property Group by 1,329.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock valued at $86,723,000 after purchasing an additional 435,721 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Simon Property Group by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 604,773 shares of the real estate investment trust’s stock valued at $111,950,000 after purchasing an additional 20,477 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Simon Property Group in the fourth quarter worth $1,112,111,000. Institutional investors own 93.01% of the company’s stock.

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.