CIBC Asset Management Inc Boosts Holdings in Simon Property Group, Inc. $SPG

CIBC Asset Management Inc boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 79.2% in the 4th quarter, HoldingsChannel reports. The firm owned 77,464 shares of the real estate investment trust’s stock after purchasing an additional 34,246 shares during the quarter. CIBC Asset Management Inc’s holdings in Simon Property Group were worth $14,339,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stance Capital LLC purchased a new position in shares of Simon Property Group in the third quarter worth $26,000. Atlantic Union Bankshares Corp boosted its position in shares of Simon Property Group by 143.0% during the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Tompkins Financial Corp purchased a new position in Simon Property Group during the fourth quarter valued at $42,000. Cullen Frost Bankers Inc. grew its stake in Simon Property Group by 79.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 111 shares in the last quarter. Finally, Camelot Portfolios LLC bought a new stake in Simon Property Group in the 4th quarter valued at $53,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings cut shares of Simon Property Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday. Barclays boosted their target price on Simon Property Group from $201.00 to $212.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. Evercore set a $207.00 price target on Simon Property Group in a research note on Tuesday, May 12th. Finally, Scotiabank raised 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. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $205.57.

Simon Property Group Price Performance

SPG stock opened at $206.22 on Friday. Simon Property Group, Inc. has a 52 week low of $155.44 and a 52 week high of $208.79. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a fifty day simple moving average of $199.50 and a two-hundred day simple moving average of $192.51. The firm has a market capitalization of $66.88 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 3.68 and a beta of 1.31.

Simon Property Group (NYSE:SPG) last posted its 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 firm 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 business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a yield of 4.4%. Simon Property Group’s payout ratio is presently 62.54%.

Simon Property Group announced that its board has initiated a stock repurchase plan on Thursday, February 5th that authorizes the company to repurchase $2.00 billion in 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 plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.