Larson Financial Group LLC Sells 3,542 Shares of Simon Property Group, Inc. $SPG

Larson Financial Group LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 59.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,367 shares of the real estate investment trust’s stock after selling 3,542 shares during the period. Larson Financial Group LLC’s holdings in Simon Property Group were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its holdings in Simon Property Group by 2.5% during the fourth quarter. Handelsbanken Fonder AB now owns 152,698 shares of the real estate investment trust’s stock valued at $28,266,000 after acquiring an additional 3,716 shares during the period. Profund Advisors LLC boosted its holdings in Simon Property Group by 10.6% during the fourth quarter. Profund Advisors LLC now owns 4,618 shares of the real estate investment trust’s stock valued at $855,000 after acquiring an additional 444 shares during the period. ProShare Advisors LLC boosted its holdings in Simon Property Group by 5.9% during the fourth quarter. ProShare Advisors LLC now owns 68,808 shares of the real estate investment trust’s stock valued at $12,737,000 after acquiring an additional 3,804 shares during the period. HighTower Advisors LLC lifted its stake in shares of Simon Property Group by 2.5% in the fourth quarter. HighTower Advisors LLC now owns 1,151,696 shares of the real estate investment trust’s stock valued at $213,190,000 after buying an additional 28,058 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Simon Property Group by 6.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,062 shares of the real estate investment trust’s stock valued at $1,492,000 after buying an additional 456 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased 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 note on Tuesday, May 12th. UBS Group increased their target price on shares of Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a research note on Monday. Evercore set a $207.00 target price on shares of Simon Property Group in a research note on Tuesday, May 12th. Barclays increased their target price on shares of Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $205.07.

Simon Property Group Stock Performance

NYSE:SPG opened at $204.50 on Friday. Simon Property Group, Inc. has a 12-month low of $155.44 and a 12-month high of $208.28. 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 firm has a market capitalization of $66.45 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 3.71 and a beta of 1.33. The firm has a 50-day moving average price of $196.17 and a 200 day moving average price of $191.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 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 company’s revenue was up 19.3% on a year-over-year basis. During the same quarter 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. Research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.4%. Simon Property Group’s dividend payout ratio (DPR) is 61.15%.

Simon Property Group announced that its board has authorized a stock buyback program on Thursday, February 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

About Simon Property Group

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.