Fideuram Asset Management Ireland dac Buys Shares of 12,466 Simon Property Group, Inc. $SPG

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Simon Property Group, buying 12,466 shares worth about $2.3 million in the fourth quarter.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 versus $1.46 expected and revenue of $1.76 billion, up 19.3% year over year.
• The REIT also raised its dividend to $2.25 per quarter and authorized a $2 billion share repurchase program, while analysts currently rate the stock a consensus “Hold” with an average target of about $205.07.

Fideuram Asset Management Ireland dac bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,466 shares of the real estate investment trust's stock, valued at approximately $2,303,000.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Simon Property Group by 15.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust's stock valued at $12,521,000 after purchasing an additional 8,965 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Simon Property Group in the third quarter valued at $3,598,000. National Pension Service boosted its stake in shares of Simon Property Group by 3.2% during the third quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust's stock valued at $202,743,000 after acquiring an additional 33,758 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of Simon Property Group by 1.7% during the third quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust's stock valued at $46,361,000 after acquiring an additional 4,177 shares during the last quarter. Finally, Aew Capital Management L P boosted its stake in shares of Simon Property Group by 90.9% during the third quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust's stock valued at $99,494,000 after acquiring an additional 252,510 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Down 1.1%

Shares of NYSE:SPG opened at $204.52 on Friday. The stock's 50-day moving average price is $197.87 and its two-hundred day moving average price is $191.87. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 12-month low of $155.44 and a 12-month high of $208.79. The firm has a market cap of $66.32 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 3.74 and a beta of 1.33.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 EPS. The firm'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. On average, research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group announced that its Board of Directors has initiated a share repurchase program on Thursday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. 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. Simon Property Group's dividend payout ratio is 62.54%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup increased their price objective on Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Piper Sandler reaffirmed an "overweight" rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. 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 research note on Monday, March 2nd. Evercore set a $207.00 price objective on Simon Property Group in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $205.07.

About Simon Property Group

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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