HighTower Advisors LLC Purchases 28,058 Shares of Simon Property Group, Inc. $SPG

Key Points

• HighTower Advisors LLC increased its stake in Simon Property Group by 2.5% in Q4, buying 28,058 additional shares and bringing its total holdings to 1,151,696 shares valued at about $213.2 million.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 versus the $1.46 consensus and revenue of $1.76 billion versus $1.54 billion expected, while revenue rose 19.3% year over year.
• The REIT also raised its quarterly dividend to $2.25 per share from $2.20 and has an active $2 billion share buyback authorization, signaling continued shareholder returns.

HighTower Advisors LLC grew its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,151,696 shares of the real estate investment trust's stock after acquiring an additional 28,058 shares during the period. HighTower Advisors LLC owned 0.35% of Simon Property Group worth $213,190,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Stance Capital LLC bought a new position in shares of Simon Property Group in the 3rd quarter valued at $26,000. Atlantic Union Bankshares Corp increased its holdings in Simon Property Group by 143.0% in the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 123 shares during the period. Tompkins Financial Corp acquired a new stake in Simon Property Group in the fourth quarter valued at $42,000. Camelot Portfolios LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $53,000. Finally, Aventura Private Wealth LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $58,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPG. 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 report on Tuesday, May 12th. Citigroup increased their price objective on Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday. UBS Group increased their price objective on Simon Property Group from $189.00 to $199.00 and gave the company a "neutral" rating in a report on Monday. Weiss Ratings upgraded Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, May 4th. Finally, Scotiabank increased their price objective on Simon Property Group from $189.00 to $192.00 and gave the company a "sector perform" rating in a report on Tuesday, March 24th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $203.29.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $200.14 on Tuesday. 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 business has a 50-day moving average price of $195.25 and a two-hundred day moving average price of $190.29. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.28. The company has a market cap of $65.04 billion, a P/E ratio of 13.91, a PEG ratio of 3.62 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 for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business's revenue was up 19.3% compared to the same quarter last year. During the same period last year, the business posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $2.25 per share. 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 dividend on an annualized basis and a dividend yield of 4.5%. Simon Property Group's payout ratio is currently 61.15%.

Simon Property Group declared that its board has initiated a share buyback program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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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