Vestcor Inc Sells 2,647 Shares of Simon Property Group, Inc. $SPG

Vestcor Inc reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 46,755 shares of the real estate investment trust’s stock after selling 2,647 shares during the period. Vestcor Inc’s holdings in Simon Property Group were worth $8,655,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $26,000. Atlantic Union Bankshares Corp boosted its holdings in shares of 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 buying an additional 123 shares during the last quarter. Tompkins Financial Corp acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $42,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Simon Property Group by 79.3% in the 4th quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 111 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 2.1%

Shares of Simon Property Group stock opened at $210.60 on Friday. The business has a fifty day simple moving average of $200.08 and a two-hundred day simple moving average of $192.63. Simon Property Group, Inc. has a 1 year low of $155.44 and a 1 year high of $211.23. The company has a market capitalization of $68.30 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 3.73 and a beta of 1.31. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $2.95 EPS. The company’s quarterly 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. Research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued 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 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Simon Property Group’s payout ratio is 61.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore set a $207.00 price objective on Simon Property Group in a report on Tuesday, May 12th. Truist Financial increased their price objective on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a report on Monday, March 2nd. UBS Group increased their price objective on Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Citigroup increased their price objective on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Scotiabank raised their price target on Simon Property Group from $192.00 to $206.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating and ten 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 $205.57.

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.