Simon Property Group, Inc. $SPG Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 21.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 301,599 shares of the real estate investment trust’s stock after selling 82,120 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Simon Property Group were worth $55,829,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SPG. Brighton Jones LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $295,000. Marshall Wace LLP boosted its holdings in shares of Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after purchasing an additional 15,033 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Simon Property Group by 80.1% during the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock worth $2,714,000 after purchasing an additional 7,506 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Simon Property Group by 1.7% during the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock worth $5,745,000 after purchasing an additional 598 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock worth $4,573,000 after purchasing an additional 3,372 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.5%

Shares of SPG opened at $205.11 on Friday. 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 firm has a market capitalization of $66.65 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 3.69 and a beta of 1.33. The stock’s fifty day simple moving average is $195.87 and its 200 day simple moving average is $190.90. Simon Property Group, Inc. has a twelve month low of $155.44 and a twelve month high of $208.28.

Simon Property Group (NYSE:SPG) last issued 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. The business had revenue of $1.76 billion for 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%.The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities research analysts forecast that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Increases Dividend

The company 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 $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 annualized dividend and a dividend yield of 4.4%. Simon Property Group’s dividend payout ratio is 61.15%.

Simon Property Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits 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 management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPG shares. Scotiabank raised their price objective on Simon Property Group from $192.00 to $206.00 and gave the stock a “sector perform” rating in a report on Tuesday. Stifel Nicolaus raised their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Evercore set a $207.00 price objective on Simon Property Group in a report on Tuesday, May 12th. Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Finally, Truist Financial increased their target price on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.07.

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.