Fideuram Asset Management Ireland dac Invests $2.30 Million in Simon Property Group, Inc. $SPG

Fideuram Asset Management Ireland dac acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, HoldingsChannel reports. The firm acquired 12,466 shares of the real estate investment trust’s stock, valued at approximately $2,303,000.

A number of other large investors also recently modified their holdings of SPG. Stance Capital LLC purchased a new position in shares of Simon Property Group in the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp raised its holdings in shares of Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 123 shares during the period. Tompkins Financial Corp purchased a new position in shares of Simon Property Group in the 4th quarter worth about $42,000. Cullen Frost Bankers Inc. raised its holdings in shares of Simon Property Group by 79.3% in the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 111 shares during the period. Finally, Camelot Portfolios LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth about $53,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $204.52 on Friday. Simon Property Group, Inc. has a fifty-two week low of $155.44 and a fifty-two week high of $208.79. The business has a 50 day moving average price of $197.87 and a two-hundred day moving average price of $191.87. 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 cap of $66.32 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.33.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm earned $2.95 EPS. Simon Property Group’s quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. Simon Property Group’s payout ratio is 62.54%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. UBS Group raised their price objective on Simon Property Group from $189.00 to $199.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Truist Financial raised their price objective on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a report on Monday, March 2nd. Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. raised their target price on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $205.07.

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.