Simon Property Group (NYSE:SPG) Sets New 1-Year High – Time to Buy?

Simon Property Group, Inc. (NYSE:SPG) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $205.18 and last traded at $205.4270, with a volume of 234438 shares changing hands. The stock had previously closed at $201.35.

Analysts Set New Price Targets

Several equities analysts have issued reports on SPG shares. Evercore increased their price objective 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. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, February 3rd. Scotiabank increased their price objective on shares of Simon Property Group from $189.00 to $192.00 and gave the company a “sector perform” rating in a report on Tuesday, March 24th. Morgan Stanley set a $205.00 price objective on shares of Simon Property Group in a report on Friday, January 16th. Finally, Citigroup increased their price objective on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $200.14.

Simon Property Group Trading Up 2.5%

The company’s 50 day moving average price is $194.13 and its two-hundred day moving average price is $187.11. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $67.04 billion, a PE ratio of 14.55, a P/E/G ratio of 6.62 and a beta of 1.37.

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

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were paid a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 62.06%.

Simon Property Group declared that its board has authorized a stock buyback program on Thursday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cidel Asset Management Inc. lifted its stake in shares of Simon Property Group by 17.2% in the first quarter. Cidel Asset Management Inc. now owns 1,370 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 201 shares in the last quarter. Krilogy Financial LLC lifted its stake in shares of Simon Property Group by 6.0% in the first quarter. Krilogy Financial LLC now owns 1,481 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 84 shares in the last quarter. WealthBridge Capital Management LLC purchased a new position in shares of Simon Property Group in the first quarter worth about $517,000. Capital Advisors Ltd. LLC lifted its stake in shares of Simon Property Group by 19.8% in the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 68 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Simon Property Group by 6.2% in the first quarter. SG Americas Securities LLC now owns 223,593 shares of the real estate investment trust’s stock worth $41,707,000 after buying an additional 13,066 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.