BI Asset Management Fondsmaeglerselskab A S Buys 29,579 Shares of Simon Property Group, Inc. $SPG

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Simon Property Group by 205.2% in the first quarter, buying 29,579 additional shares and bringing its total holdings to 43,992 shares worth about $8.2 million.
• Analysts remain mostly cautious on SPG despite recent target-price increases, with the stock carrying a current consensus rating of “Hold” and an average price target of $208.29.
• Simon Property Group reported better-than-expected quarterly results and raised its dividend to $2.25 per share, putting the annualized payout at $9.00 and a yield of about 4.3%.

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 205.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,992 shares of the real estate investment trust's stock after buying an additional 29,579 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Simon Property Group were worth $8,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SPG. Brighton Jones LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $295,000. Marshall Wace LLP lifted its position in Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust's stock valued at $3,181,000 after buying an additional 15,033 shares during the period. Jump Financial LLC lifted its position in Simon Property Group by 80.1% during the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust's stock valued at $2,714,000 after buying an additional 7,506 shares during the period. Cerity Partners LLC boosted its holdings in shares of Simon Property Group by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust's stock valued at $5,745,000 after buying an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Simon Property Group by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust's stock valued at $4,573,000 after buying an additional 3,372 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on SPG shares. Citigroup upped their target price on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Scotiabank boosted their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Thursday. Evercore set a $208.00 price objective on shares of Simon Property Group in a research note on Monday, June 8th. Barclays upped their price objective on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 19th. Finally, Stifel Nicolaus raised their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $208.29.

Simon Property Group Trading Up 0.1%

NYSE SPG opened at $211.46 on Monday. Simon Property Group, Inc. has a 12 month low of $155.92 and a 12 month high of $220.43. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The stock's fifty day moving average price is $205.23 and its 200-day moving average price is $194.78. The stock has a market cap of $68.57 billion, a P/E ratio of 14.69, a P/E/G ratio of 3.82 and a beta of 1.31.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion during 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%.Simon Property Group's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 13.21 EPS 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. Investors of record on Tuesday, June 9th will be given a $2.25 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 annualized dividend and a yield of 4.3%. Simon Property Group's payout ratio is currently 62.54%.

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.

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