Pasadena Private Wealth LLC Purchases New Holdings in Simon Property Group, Inc. $SPG

Key Points

• Pasadena Private Wealth LLC disclosed a new fourth-quarter stake in Simon Property Group, buying 12,042 shares worth about $2.23 million.
• The stock has strong institutional backing, with 93.01% of shares owned by hedge funds and other institutional investors, while several firms recently increased their positions.
• Simon Property Group reported solid quarterly results, beat EPS and revenue estimates, raised its quarterly dividend to $2.25 per share, and maintained a share buyback program.

Pasadena Private Wealth LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,042 shares of the real estate investment trust's stock, valued at approximately $2,229,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Wellington Management Group LLP lifted its stake in Simon Property Group by 634.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust's stock valued at $1,383,145,000 after buying an additional 6,366,711 shares in the last quarter. Capital World Investors lifted its stake in Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust's stock valued at $1,573,450,000 after buying an additional 2,600,508 shares in the last quarter. Vanguard Group Inc. lifted its stake in Simon Property Group by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust's stock valued at $8,761,093,000 after buying an additional 844,190 shares in the last quarter. Barclays PLC lifted its stake in Simon Property Group by 78.9% in the 3rd quarter. Barclays PLC now owns 1,103,843 shares of the real estate investment trust's stock worth $207,158,000 after purchasing an additional 486,967 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Simon Property Group by 1,329.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust's stock worth $86,723,000 after purchasing an additional 435,721 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPG shares. Evercore set a $207.00 target price on shares of Simon Property Group in a research note on Tuesday, May 12th. Stifel Nicolaus raised their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a "hold" rating in a research note on Tuesday, May 12th. Citigroup raised 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, May 14th. Barclays raised their target price on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 19th. Finally, Scotiabank raised their target price on shares of Simon Property Group from $192.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $205.07.

Simon Property Group Stock Up 0.1%

Shares of NYSE SPG opened at $206.94 on Friday. The company has a 50 day simple moving average of $197.59 and a 200-day simple moving average of $191.78. The company has a market capitalization of $67.11 billion, a P/E ratio of 14.38, a P/E/G ratio of 3.74 and a beta of 1.33. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a 1 year low of $155.44 and a 1 year high of $208.79.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business's revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities research analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $2.25 per share. The ex-dividend date is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's payout ratio is 61.15%.

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

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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