Simon Property Group (NYSE:SPG) Hits New 1-Year High – Here’s What Happened

Shares of Simon Property Group, Inc. (NYSE:SPG) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $190.49 and last traded at $189.8820, with a volume of 74838 shares traded. The stock had previously closed at $189.80.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SPG. Stifel Nicolaus upped their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Piper Sandler upped their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Morgan Stanley set a $205.00 price objective on Simon Property Group in a research note on Friday, January 16th. Mizuho set a $192.00 target price on Simon Property Group in a report on Friday, January 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $194.64.

Simon Property Group Stock Performance

The stock’s 50 day moving average price is $184.80 and its 200 day moving average price is $179.53. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm has a market cap of $62.47 billion, a PE ratio of 27.85, a P/E/G ratio of 7.04 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Wednesday, December 10th. Simon Property Group’s payout ratio is presently 128.09%.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel acquired 216 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the purchase, the director directly owned 19,481 shares of the company’s stock, valued at $3,623,466. The trade was a 1.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Reuben S. Leibowitz bought 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $89,280.00. Following the purchase, the director directly owned 53,639 shares of the company’s stock, valued at approximately $9,976,854. This represents a 0.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 2,192 shares of company stock valued at $407,712. 8.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its stake in shares of Simon Property Group by 68.8% in the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after purchasing an additional 50,932 shares in the last quarter. Highland Capital Management LLC bought a new position in Simon Property Group in the 2nd quarter valued at approximately $1,196,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Simon Property Group by 8.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,798 shares of the real estate investment trust’s stock valued at $22,482,000 after buying an additional 9,267 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Simon Property Group by 740.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock worth $28,546,000 after buying an additional 156,448 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in shares of Simon Property Group by 10.9% during the third quarter. Resona Asset Management Co. Ltd. now owns 197,455 shares of the real estate investment trust’s stock worth $36,785,000 after buying an additional 19,482 shares during the last quarter. 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.