Eurizon Capital SGR S.p.A. Buys Shares of 38,398 Simon Property Group, Inc. $SPG

Key Points

• Eurizon Capital SGR disclosed a new fourth-quarter stake in Simon Property Group, buying 38,398 shares valued at about $7.1 million.
• Institutional ownership remains very high, with 93.01% of SPG held by institutions and hedge funds; several big investors, including Vanguard, State Street, and Geode, also increased their positions.
• Simon Property Group reported a better-than-expected quarter, raised its dividend to $2.25 per share, and has a new $2 billion share buyback authorization, while analysts currently rate the stock a consensus Hold.

Eurizon Capital SGR S.p.A. bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 38,398 shares of the real estate investment trust's stock, valued at approximately $7,113,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Simon Property Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock valued at $8,694,610,000 after purchasing an additional 286,464 shares in the last quarter. State Street Corp raised its position in shares of Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock valued at $4,084,730,000 after purchasing an additional 312,995 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust's stock valued at $1,950,967,000 after purchasing an additional 363,337 shares in the last quarter. Capital World Investors raised its position in shares of Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust's stock valued at $1,573,450,000 after purchasing an additional 2,600,508 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Simon Property Group by 634.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust's stock valued at $1,383,145,000 after purchasing an additional 6,366,711 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $230.00 target price (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Citigroup upped their target price on Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. upped their price target on Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a research report on Monday. 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 report on Tuesday, May 12th. Finally, UBS Group upped their price target on Simon Property Group from $189.00 to $199.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Hold" and an average price target of $205.57.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $202.77 on Tuesday. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.79. 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 business's fifty day moving average price is $198.10 and its two-hundred day moving average price is $192.06. The firm has a market capitalization of $65.76 billion, a PE ratio of 14.09, a P/E/G ratio of 3.71 and a beta of 1.33.

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 for the quarter, topping 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $2.95 earnings per share. The firm's revenue for the quarter 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. On average, research analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group declared that its board has initiated a stock buyback program on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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. This represents a $9.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Simon Property Group's dividend payout ratio is 62.54%.

Simon Property Group 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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