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

Simon Property Group, Inc. (NYSE:SPG)’s stock price reached a new 52-week high on Monday . The company traded as high as $203.60 and last traded at $201.1530, with a volume of 58348 shares changing hands. The stock had previously closed at $201.70.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $230.00 price target (up previously from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Evercore boosted their target price on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft raised Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, January 20th. Finally, Truist Financial upped their target price on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $197.93.

Simon Property Group Price Performance

The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 1.44. The business’s fifty day moving average price is $188.83 and its 200-day moving average price is $182.99. The stock has a market capitalization of $65.33 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 6.65 and a beta of 1.39.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.50 billion. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.4%. Simon Property Group’s payout ratio is presently 62.06%.

Simon Property Group announced 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 reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 480 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director directly owned 53,639 shares in the company, valued at $9,976,854. The trade was a 0.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stefan M. Selig purchased 201 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, for a total transaction of $37,386.00. Following the completion of the transaction, the director directly owned 32,277 shares of the company’s stock, valued at $6,003,522. This represents a 0.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 2,192 shares of company stock worth $407,712 in the last three months. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPG. Stance Capital LLC purchased a new position in shares of Simon Property Group in the 3rd quarter worth approximately $26,000. Wilkerson Advisory Group LLC bought a new stake in Simon Property Group during the fourth quarter worth $29,000. Silicon Valley Capital Partners purchased a new position in Simon Property Group in the second quarter worth $30,000. VSM Wealth Advisory LLC purchased a new position in Simon Property Group in the second quarter worth $30,000. Finally, Atlantic Union Bankshares Corp grew its stake in 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 valued at $39,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.