Cohen & Steers Inc. Has $1.18 Billion Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Cohen & Steers cut its Simon Property Group stake by 25.5% in the fourth quarter, but it still held 6.37 million shares worth about $1.18 billion and made SPG its 13th-largest position.
• Simon Property Group reported better-than-expected quarterly results, with earnings of $1.48 per share and revenue of $1.76 billion, while revenue rose 19.3% from a year earlier.
• The REIT raised its quarterly dividend to $2.25 per share, or $9.00 annualized, for a yield of about 4.1%; analysts currently have an average Hold rating with a consensus target price of $205.79.

Cohen & Steers Inc. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,366,263 shares of the real estate investment trust's stock after selling 2,174,377 shares during the period. Simon Property Group comprises 2.1% of Cohen & Steers Inc.'s portfolio, making the stock its 13th biggest position. Cohen & Steers Inc. owned about 1.95% of Simon Property Group worth $1,178,509,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SPG. Brighton Jones LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth approximately $295,000. Marshall Wace LLP increased its holdings 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 buying an additional 15,033 shares in the last quarter. Jump Financial LLC increased its holdings 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 buying an additional 7,506 shares in the last quarter. Cerity Partners LLC increased its holdings 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 worth $5,745,000 after buying an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings 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 worth $4,573,000 after purchasing an additional 3,372 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $218.79 on Friday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $70.95 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.88 and a beta of 1.31. The firm has a 50 day simple moving average of $203.01 and a 200 day simple moving average of $193.75. Simon Property Group, Inc. has a fifty-two week low of $155.44 and a fifty-two week high of $220.44.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. Simon Property Group's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 represents a $9.00 dividend on an annualized basis and a yield of 4.1%. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's dividend payout ratio (DPR) is presently 62.54%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SPG shares. Scotiabank raised their target price on Simon Property Group from $192.00 to $206.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 19th. Stifel Nicolaus raised their target price 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. Morgan Stanley raised their target price on Simon Property Group from $205.00 to $207.00 and gave the company an "equal weight" rating in a research note on Tuesday. UBS Group raised their price target on shares of Simon Property Group from $189.00 to $199.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Finally, Citigroup raised their price target on shares of Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $205.79.

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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