North Dakota State Investment Board Invests $2.06 Million in Simon Property Group, Inc. $SPG

Key Points

• North Dakota State Investment Board initiated a new position in Simon Property Group, buying 11,109 shares valued at about $2.06 million in the fourth quarter.
• Simon Property Group reported strong quarterly results, with EPS of $1.48 topping estimates and revenue rising 19.3% year over year to $1.76 billion.
• The REIT also raised its quarterly dividend to $2.25 per share and authorized a $2 billion stock buyback, signaling confidence in its outlook.

North Dakota State Investment Board acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,109 shares of the real estate investment trust's stock, valued at approximately $2,056,000.

A number of other large investors have also modified their holdings of SPG. Wellington Management Group LLP increased 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 acquiring an additional 6,366,711 shares during the period. Capital World Investors increased 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 acquiring an additional 2,600,508 shares during the period. Vanguard Group Inc. increased its position in shares of Simon Property Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust's stock worth $8,761,093,000 after acquiring an additional 844,190 shares during the period. Barclays PLC increased its position in shares of Simon Property Group by 78.9% during the third quarter. Barclays PLC now owns 1,103,843 shares of the real estate investment trust's stock worth $207,158,000 after acquiring an additional 486,967 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Simon Property Group by 1,329.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust's stock worth $86,723,000 after acquiring an additional 435,721 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of SPG 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 firm has a fifty day moving average price of $195.25 and a 200 day moving average price of $190.29. 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, Inc. has a 12 month low of $155.44 and a 12 month high of $208.28.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data 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 net margin of 70.60% and a return on equity of 104.54%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. Simon Property Group'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. Sell-side analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group declared that its board has initiated a stock repurchase plan on Thursday, February 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed 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 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 4.5%. The ex-dividend date is Tuesday, June 9th. Simon Property Group's payout ratio is currently 61.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPG. Stifel Nicolaus upped their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. Truist Financial upped their price objective 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. Citigroup boosted their target price on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday. Scotiabank boosted their target price on shares of Simon Property Group from $189.00 to $192.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Finally, Evercore set a $207.00 target price on shares of Simon Property Group in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $203.29.

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.