Simon Property Group, Inc. $SPG Holdings Raised by Lasalle Investment Management Securities LLC

Lasalle Investment Management Securities LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 533,003 shares of the real estate investment trust’s stock after acquiring an additional 26,611 shares during the period. Simon Property Group accounts for approximately 4.0% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 6th biggest holding. Lasalle Investment Management Securities LLC’s holdings in Simon Property Group were worth $98,664,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Stance Capital LLC purchased a new stake in Simon Property Group in the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp boosted its position in Simon Property Group by 143.0% in the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 123 shares during the last quarter. Tompkins Financial Corp purchased a new stake in Simon Property Group in the fourth quarter valued at approximately $42,000. Cullen Frost Bankers Inc. boosted its position in Simon Property Group by 79.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 111 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new stake in Simon Property Group in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.2%

Shares of NYSE:SPG opened at $204.52 on Monday. Simon Property Group, Inc. has a 12-month low of $155.44 and a 12-month high of $208.79. The company has a market capitalization of $66.32 billion, a PE ratio of 14.21, a PEG ratio of 3.71 and a beta of 1.31. The business has a 50 day moving average of $197.87 and a two-hundred day moving average of $191.93. 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 announced its earnings results 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 business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.

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 paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.4%. 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. Simon Property Group’s dividend payout ratio is currently 61.15%.

Simon Property Group declared that its Board of Directors has authorized a stock 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. 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 report on Tuesday, February 3rd. Truist Financial boosted their price target on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a report on Monday, March 2nd. Scotiabank boosted their price target on Simon Property Group from $192.00 to $206.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Stifel Nicolaus boosted their price target on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Finally, Evercore set a $207.00 price target on Simon Property Group in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $205.07.

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.