Simon Property Group, Inc. $SPG Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,256 shares of the real estate investment trust’s stock after selling 7,199 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $35,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Simon Property Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after purchasing an additional 286,464 shares during the period. State Street Corp lifted its stake in shares of Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after purchasing an additional 312,995 shares during the period. Capital World Investors lifted its stake in shares of Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock valued at $1,573,450,000 after purchasing an additional 2,600,508 shares during the period. Wellington Management Group LLP lifted its stake in shares of Simon Property Group by 634.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock valued at $1,383,145,000 after purchasing an additional 6,366,711 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Simon Property Group by 1.6% in the 3rd quarter. Northern Trust Corp now owns 5,344,170 shares of the real estate investment trust’s stock valued at $1,002,940,000 after purchasing an additional 82,550 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPG shares. Evercore set a $207.00 target price on shares of Simon Property Group in a research note on Tuesday, May 12th. 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. Piper Sandler reiterated an “overweight” rating and issued a $230.00 target price (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Weiss Ratings upgraded shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 4th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $203.29.

Simon Property Group Price Performance

Simon Property Group stock opened at $200.14 on Tuesday. Simon Property Group, Inc. has a 52-week low of $155.44 and a 52-week high of $208.28. The firm has a market capitalization of $65.04 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 3.62 and a beta of 1.33. The company has a fifty day simple moving average of $195.25 and a 200-day simple moving average of $190.29. 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 released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group announced that its board has initiated a share buyback 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.5%. Simon Property Group’s payout ratio is currently 61.15%.

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.