Cibc World Market Inc. Grows Position in Simon Property Group, Inc. $SPG

Key Points

• CIBC World Market Inc. increased its stake in Simon Property Group by 73.4% in the fourth quarter, holding 181,693 shares worth about $33.6 million after the purchase.
• Simon Property Group reported strong quarterly results, with EPS of $1.48 beating estimates and revenue of $1.76 billion topping forecasts; revenue also rose 19.3% year over year.
• The REIT raised its quarterly dividend to $2.25 per share from $2.20 and also has a $2 billion share repurchase program authorized, signaling confidence in its stock and cash generation.

Cibc World Market Inc. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 73.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,693 shares of the real estate investment trust's stock after purchasing an additional 76,913 shares during the period. Cibc World Market Inc. owned about 0.06% of Simon Property Group worth $33,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Simon Property Group in the 4th quarter valued at $295,000. Marshall Wace LLP lifted its position in shares of 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 worth $3,181,000 after purchasing an additional 15,033 shares during the last quarter. Jump Financial LLC lifted its position in shares of 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 worth $2,714,000 after purchasing an additional 7,506 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Simon Property Group by 1.7% during the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust's stock valued at $5,745,000 after purchasing an additional 598 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust's stock valued at $4,573,000 after purchasing an additional 3,372 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

SPG stock opened at $206.22 on Friday. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.79. The business has a 50-day moving average price of $199.50 and a 200 day moving average price of $192.51. The company has a market capitalization of $66.88 billion, a P/E ratio of 14.33, a PEG ratio of 3.68 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 - Get Free Report) last issued its 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 company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 13.2 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 issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a yield of 4.4%. Simon Property Group's dividend payout ratio is 62.54%.

Simon Property Group announced that its board has authorized a share repurchase program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on SPG shares. Barclays raised their price target on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 19th. Scotiabank upped their target price on shares of Simon Property Group from $192.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 19th. Weiss Ratings lowered shares of Simon Property Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday. Evercore set a $207.00 price target on shares of Simon Property Group in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus boosted their price target on Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.