Simon Property Group (NYSE:SPG) Reaches New 52-Week High – Here’s What Happened

Simon Property Group, Inc. (NYSE:SPG) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $214.63 and last traded at $213.3470, with a volume of 2001883 shares traded. The stock had previously closed at $211.89.

Analysts Set New Price Targets

Several equities analysts have commented on SPG shares. Barclays increased their target price on Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Scotiabank increased their target price on Simon Property Group from $192.00 to $206.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. Stifel Nicolaus increased their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Evercore set a $208.00 target price on Simon Property Group in a research report on Monday. Finally, Weiss Ratings downgraded Simon Property Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $205.79.

Simon Property Group Stock Up 1.8%

The firm has a 50 day moving average of $203.01 and a 200 day moving average of $193.75. The firm has a market cap of $70.95 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 3.88 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. 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 4.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Simon Property Group’s payout ratio is 62.54%.

Institutional Investors Weigh In On Simon Property Group

Several large investors have recently added to or reduced their stakes in the business. Stance Capital LLC acquired a new stake in Simon Property Group in the third quarter valued at approximately $26,000. Wilkerson Advisory Group LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $29,000. SHP Wealth Management acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $34,000. Dynamic Wealth Strategies LLC grew its stake in Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 139 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

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.