Simon Property Group (NYSE:SPG) Hits New 12-Month High on Analyst Upgrade

Simon Property Group, Inc. (NYSE:SPG) shares hit a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $196.00 to $215.00. Truist Financial currently has a hold rating on the stock. Simon Property Group traded as high as $222.06 and last traded at $222.0040, with a volume of 1048617 shares. The stock had previously closed at $216.74.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lifted their price target on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. UBS Group set a $220.00 price objective on shares of Simon Property Group in a report on Thursday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Citigroup upped their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Barclays raised their price objective 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, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $209.64.

Hedge Funds Weigh In On Simon Property Group

Several hedge funds have recently modified their holdings of SPG. Stance Capital LLC purchased a new stake in Simon Property Group in the third quarter worth $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $29,000. SHP Wealth Management bought a new stake in Simon Property Group during the 4th quarter valued at $34,000. Dynamic Wealth Strategies LLC boosted its position in Simon Property Group by 195.8% during the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 139 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Simon Property Group in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 2.4%

The company’s fifty day simple moving average is $205.87 and its 200-day simple moving average is $195.25. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $71.98 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 3.88 and a beta of 1.31.

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 for the quarter, topping the consensus estimate 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 company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm earned $2.95 EPS. Simon Property Group’s revenue 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, analysts forecast that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is 62.54%.

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.