Payden & Rygel Has $14.26 Million Stock Holdings in Simon Property Group, Inc. $SPG

Payden & Rygel reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,050 shares of the real estate investment trust’s stock after selling 2,800 shares during the quarter. Payden & Rygel’s holdings in Simon Property Group were worth $14,263,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stance Capital LLC bought a new stake in shares of Simon Property Group in the 3rd quarter valued at $26,000. Atlantic Union Bankshares Corp grew its holdings 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 worth $39,000 after purchasing an additional 123 shares during the period. Tompkins Financial Corp bought a new stake in Simon Property Group in the fourth quarter valued at $42,000. Camelot Portfolios LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $53,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $58,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.1%

NYSE:SPG opened at $200.14 on Tuesday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a one year low of $155.44 and a one year high of $208.28. The company has a market cap of $65.04 billion, a PE ratio of 13.91, a PEG ratio of 3.62 and a beta of 1.33. The firm has a 50-day moving average of $195.25 and a 200-day moving average of $190.29.

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

Simon Property Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given 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 4.5%. Simon Property Group’s payout ratio is presently 61.15%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Truist Financial upped their price target on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Tuesday, January 20th. Evercore set a $207.00 price objective on Simon Property Group in a report on Tuesday, May 12th. Finally, Scotiabank upped their target price on Simon Property Group from $189.00 to $192.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 24th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $203.29.

Simon Property Group 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.