Swedbank AB Raises Stock Holdings in Simon Property Group, Inc. $SPG

Swedbank AB increased its position in Simon Property Group, Inc. (NYSE:SPG) by 30.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 180,890 shares of the real estate investment trust’s stock after purchasing an additional 42,512 shares during the period. Swedbank AB’s holdings in Simon Property Group were worth $33,485,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. UBS Group increased their target price on Simon Property Group from $189.00 to $199.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. increased their target price on Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings raised Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Evercore set a $207.00 target price on Simon Property Group in a research note on Tuesday, May 12th. Finally, Barclays increased their target price on Simon Property Group from $201.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $205.07.

Simon Property Group Trading Up 0.0%

NYSE SPG opened at $204.50 on Monday. Simon Property Group, Inc. has a 12 month low of $155.44 and a 12 month high of $208.28. The stock has a market cap of $66.45 billion, a P/E ratio of 14.21, a P/E/G ratio of 3.70 and a beta of 1.33. The stock’s fifty day moving average price is $196.17 and its 200-day moving average price is $191.10. The company has a current ratio of 0.84, a quick 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 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared 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 an increase 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 4.4%. Simon Property Group’s dividend payout ratio is currently 61.15%.

Simon Property Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 5th that allows the company to buyback $2.00 billion in outstanding 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 plans are typically an indication that the company’s board of directors 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.