Simon Property Group (NYSE:SPG) Hits New 12-Month High After Analyst Upgrade

Simon Property Group, Inc. (NYSE:SPG)’s stock price reached a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $196.00 to $215.00. Truist Financial currently has a hold rating on the stock. Simon Property Group traded as high as $222.06 and last traded at $222.0040, with a volume of 1048617 shares changing hands. The stock had previously closed at $216.74.

Several other equities analysts have also commented on the company. Stifel Nicolaus upped their price target on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Barclays raised their price target on shares of 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 raised their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Citigroup lifted their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Evercore set a $208.00 price target on shares of Simon Property Group in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $209.64.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in SPG. Sapient Capital LLC lifted its stake in shares of Simon Property Group by 1.1% during the first quarter. Sapient Capital LLC now owns 111,276 shares of the real estate investment trust’s stock valued at $20,756,000 after buying an additional 1,230 shares during the period. DV Trading LLC acquired a new position in Simon Property Group during the first quarter worth approximately $224,000. Parallel Advisors LLC raised its stake in Simon Property Group by 8.8% during the first quarter. Parallel Advisors LLC now owns 5,431 shares of the real estate investment trust’s stock worth $1,013,000 after purchasing an additional 440 shares during the period. Alpine Woods Capital Investors LLC boosted its holdings in shares of Simon Property Group by 24.5% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 16,470 shares of the real estate investment trust’s stock valued at $3,072,000 after purchasing an additional 3,246 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Simon Property Group by 0.8% in the 1st quarter. Glenmede Trust Co. NA now owns 85,912 shares of the real estate investment trust’s stock valued at $16,025,000 after purchasing an additional 671 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

The company’s 50 day moving average price is $205.87 and its 200-day moving average price is $195.25. The company has a market capitalization of $71.98 billion, a PE ratio of 15.43, a PEG ratio of 3.88 and a beta of 1.31. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68.

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, sell-side analysts forecast that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 is Tuesday, June 9th. Simon Property Group’s payout ratio is presently 62.54%.

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.