Pacer Advisors Inc. Lowers Stake in Simon Property Group, Inc. $SPG

Key Points

• Pacer Advisors cut its stake in Simon Property Group by 16.3% in the fourth quarter, selling 5,011 shares and leaving it with 25,678 shares valued at about $4.75 million.
• Analysts have been modestly raising price targets, but the overall view remains cautious: Simon Property Group has a consensus Hold rating with an average price target of $208.29.
• The REIT reported strong quarterly results, with EPS of $1.48 beating estimates and revenue of $1.76 billion topping forecasts, while also increasing its quarterly dividend to $2.25 per share.

Pacer Advisors Inc. lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,678 shares of the real estate investment trust's stock after selling 5,011 shares during the quarter. Pacer Advisors Inc.'s holdings in Simon Property Group were worth $4,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stance Capital LLC purchased a new stake in shares of Simon Property Group during the 3rd quarter worth $26,000. Wilkerson Advisory Group LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $29,000. Tompkins Financial Corp bought a new position in Simon Property Group in the fourth quarter worth about $42,000. Cullen Frost Bankers Inc. raised its holdings in Simon Property Group by 79.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 111 shares in the last quarter. Finally, MV Capital Management Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter valued at about $46,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SPG shares. Scotiabank lifted their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a research note on Monday, June 1st. Truist Financial lifted their price target on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a "hold" rating in a report on Monday, March 2nd. Citigroup lifted their price target on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Barclays upped their price target on Simon Property Group from $201.00 to $212.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $208.29.

Simon Property Group Trading Up 1.4%

Shares of NYSE:SPG opened at $214.31 on Tuesday. Simon Property Group, Inc. has a 52-week low of $155.92 and a 52-week high of $220.43. The stock has a market cap of $69.50 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 3.82 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The business has a 50-day moving average price of $205.54 and a 200-day moving average price of $195.00.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 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 during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company's 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. Equities analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.2%. 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%.

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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