Harvest Portfolios Group Inc. Has $1.35 Million Stock Holdings in Simon Property Group, Inc. $SPG

Harvest Portfolios Group Inc. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 33.1% during the fourth quarter, HoldingsChannel reports. The firm owned 7,290 shares of the real estate investment trust’s stock after selling 3,608 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Simon Property Group were worth $1,349,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Simon Property Group by 15.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after purchasing an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $3,598,000. National Pension Service boosted its holdings in shares of Simon Property Group by 3.2% in the 3rd quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock valued at $202,743,000 after purchasing an additional 33,758 shares in the last quarter. Aew Capital Management L P boosted its holdings in shares of Simon Property Group by 90.9% in the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock valued at $99,494,000 after purchasing an additional 252,510 shares in the last quarter. Finally, Clark Capital Management Group Inc. boosted its holdings in shares of Simon Property Group by 1.7% in the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock valued at $46,361,000 after purchasing an additional 4,177 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPG. Stifel Nicolaus increased their price target 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. Scotiabank increased their price target on Simon Property Group from $192.00 to $206.00 and gave the company a “sector perform” rating in a research note on Tuesday. Evercore set a $207.00 price target on Simon Property Group in a research note on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, Truist Financial increased their price target on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $205.07.

Simon Property Group Stock Up 1.6%

Shares of SPG opened at $204.05 on Thursday. Simon Property Group, Inc. has a 52 week low of $155.44 and a 52 week high of $208.28. The stock has a market capitalization of $66.31 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 3.63 and a beta of 1.33. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $195.60 and a 200-day moving average of $190.70.

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 (EPS) 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 analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.Simon Property Group’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

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 represents a $9.00 annualized dividend and a yield of 4.4%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is 61.15%.

Simon Property Group declared that its Board of Directors has initiated a stock buyback program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.