Resona Asset Management Co. Ltd. Cuts Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Resona Asset Management reduced its stake in Simon Property Group by 3.6% in the fourth quarter, selling 7,199 shares and leaving it with 190,256 shares valued at about $35.6 million.
• Simon Property Group reported better-than-expected quarterly results, posting $1.48 EPS on revenue of $1.76 billion, while also raising its full-year guidance and authorizing a $2 billion share buyback.
• The company also increased its quarterly dividend to $2.25 per share, implying an annualized payout of $9.00 and a 4.5% yield; analysts currently have a consensus Hold rating with an average target price of $203.29.

Resona Asset Management Co. Ltd. lowered its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 190,256 shares of the real estate investment trust's stock after selling 7,199 shares during the period. Resona Asset Management Co. Ltd. owned approximately 0.06% of Simon Property Group worth $35,576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Embree Financial Group grew its position in shares of Simon Property Group by 2.4% in the 4th quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust's stock worth $447,000 after buying an additional 56 shares during the last quarter. O ROURKE & COMPANY Inc grew its position in Simon Property Group by 2.8% during the 4th quarter. O ROURKE & COMPANY Inc now owns 2,124 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 57 shares during the last quarter. Washington Trust Bank grew its position in Simon Property Group by 3.5% during the 4th quarter. Washington Trust Bank now owns 1,776 shares of the real estate investment trust's stock worth $329,000 after purchasing an additional 60 shares during the last quarter. Colonial Trust Co SC grew its position in Simon Property Group by 25.7% during the 3rd quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 65 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Simon Property Group by 4.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,582 shares of the real estate investment trust's stock worth $293,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG 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. Simon Property Group, Inc. has a 12 month low of $155.44 and a 12 month high of $208.28. The company has a 50 day simple moving average of $195.25 and a two-hundred day simple moving average of $190.29. The stock has a market cap of $65.04 billion, a price-to-earnings 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 announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 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 business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the previous year, the business posted $2.95 EPS. The business'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. As a group, analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm 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 dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 4.5%. The ex-dividend date 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 (DPR) is presently 61.15%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SPG shares. Evercore set a $207.00 target price on shares of Simon Property Group in a research report on Tuesday, May 12th. Barclays boosted their target price on shares of Simon Property Group from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Monday, April 13th. UBS Group boosted their target price on shares of Simon Property Group from $189.00 to $199.00 and gave the stock a "neutral" rating in a research report on Monday. 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 report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $203.29.

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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