Simon Property Group (NYSE:SPG) Sets New 12-Month High – Here’s What Happened

Shares of Simon Property Group, Inc. (NYSE:SPG) hit a new 52-week high during trading on Wednesday . The company traded as high as $208.79 and last traded at $207.9640, with a volume of 170626 shares trading hands. The stock had previously closed at $206.94.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPG. Citigroup lifted their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. UBS Group lifted their price objective on shares of Simon Property Group from $189.00 to $199.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Evercore set a $207.00 price objective on shares of Simon Property Group in a report on Tuesday, May 12th. Finally, Scotiabank lifted their price objective on shares of Simon Property Group from $192.00 to $206.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $205.07.

Simon Property Group Stock Up 0.4%

The stock’s fifty day moving average is $196.92 and its two-hundred day moving average is $191.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a market capitalization of $67.54 billion, a PE ratio of 14.45, a P/E/G ratio of 3.70 and a beta of 1.33.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous 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, analysts predict that Simon Property Group, Inc. will post 13.2 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 issued a $2.25 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.3%. Simon Property Group’s payout ratio is presently 62.54%.

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

Hedge Funds Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stance Capital LLC purchased a new position in shares of Simon Property Group in the 3rd quarter worth about $26,000. Wilkerson Advisory Group LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth about $29,000. SHP Wealth Management purchased a new position in shares of Simon Property Group in the 4th quarter worth about $34,000. Atlantic Union Bankshares Corp boosted 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 buying an additional 123 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its holdings in shares of Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 139 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.