Zurcher Kantonalbank Zurich Cantonalbank Sells 3,782 Shares of Simon Property Group, Inc. $SPG

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,428 shares of the real estate investment trust’s stock after selling 3,782 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Simon Property Group worth $53,206,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC bought a new stake in Simon Property Group in the fourth quarter valued at approximately $295,000. Marshall Wace LLP boosted its position in shares of Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after purchasing an additional 15,033 shares in the last quarter. Jump Financial LLC grew its holdings 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 buying an additional 7,506 shares during the period. Cerity Partners LLC increased 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 buying an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC increased 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 buying an additional 3,372 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SPG. Scotiabank lifted their target price on Simon Property Group from $189.00 to $192.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 24th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a report on Wednesday, April 8th. Barclays raised their price target on Simon Property Group from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. Evercore lifted their price objective on Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. Finally, Truist Financial boosted their price objective on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $200.14.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $207.66 on Tuesday. The firm has a market cap of $67.48 billion, a PE ratio of 14.64, a PEG ratio of 6.78 and a beta of 1.37. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42. Simon Property Group, Inc. has a 1-year low of $145.84 and a 1-year high of $208.20. The company has a fifty day moving average price of $194.35 and a 200 day moving average price of $187.28.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Research analysts predict that Simon Property Group, Inc. will post 13.19 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were paid a $2.20 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $8.80 annualized dividend and a yield of 4.2%. Simon Property Group’s payout ratio is presently 62.06%.

Simon Property Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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.