Lasalle Investment Management Securities LLC Has $98.66 Million Stake in Simon Property Group, Inc. $SPG

Key Points

• Lasalle Investment Management Securities LLC increased its stake in Simon Property Group by 5.3% in the fourth quarter, owning 533,003 shares worth about $98.66 million. The position now represents 4.0% of the fund’s portfolio and its 6th-largest holding.
• Analysts have mostly remained cautious on SPG despite recent target price increases, with the stock carrying a consensus “Hold” rating and an average target price of $205.07. Recent updates included upgrades and higher targets from firms such as Weiss Ratings, Citigroup, Piper Sandler, Truist Financial, and Evercore.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 and revenue of $1.76 billion, and raised its quarterly dividend to $2.25 per share. The company also authorized a $2 billion share buyback, signaling management’s confidence in the stock.

Lasalle Investment Management Securities LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 533,003 shares of the real estate investment trust's stock after acquiring an additional 26,611 shares during the period. Simon Property Group comprises 4.0% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 6th biggest position. Lasalle Investment Management Securities LLC owned about 0.16% of Simon Property Group worth $98,664,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Simon Property Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock worth $8,694,610,000 after purchasing an additional 286,464 shares during the last quarter. State Street Corp lifted its position in shares of Simon Property Group by 1.5% during the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock worth $4,084,730,000 after purchasing an additional 312,995 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust's stock worth $1,950,967,000 after purchasing an additional 363,337 shares during the last quarter. Capital World Investors lifted its position in shares of Simon Property Group by 45.0% during the third quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust's stock worth $1,573,450,000 after purchasing an additional 2,600,508 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Simon Property Group by 634.5% during the third quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust's stock worth $1,383,145,000 after purchasing an additional 6,366,711 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPG. Weiss Ratings upgraded Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, May 18th. Citigroup lifted their target price on Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Piper Sandler reiterated an "overweight" rating and set a $230.00 target price (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Truist Financial lifted their target price on Simon Property Group from $181.00 to $196.00 and gave the stock a "hold" rating in a research report on Monday, March 2nd. Finally, Evercore set a $207.00 price objective on Simon Property Group in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $205.07.

Simon Property Group Price Performance

SPG opened at $204.52 on Monday. The business's 50-day moving average is $197.87 and its two-hundred day moving average is $191.93. 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 firm has a market capitalization of $66.32 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 3.71 and a beta of 1.31.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The firm's quarterly revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has authorized a share buyback program on Thursday, February 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are 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 paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.4%. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date is Tuesday, June 9th. Simon Property Group's payout ratio is presently 61.15%.

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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