Simon Property Group, Inc. $SPG Shares Bought by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its stake in Simon Property Group by 9.8% in the fourth quarter, buying 7,562 more shares and bringing its holdings to 84,725 shares worth about $15.7 million.
• Simon Property Group recently reported better-than-expected quarterly results, with EPS of $1.48 versus estimates of $1.46 and revenue of $1.76 billion, up 19.3% year over year. The company also raised its full-year guidance to $13.10-$13.25 EPS.
• The REIT boosted its quarterly dividend to $2.25 per share from $2.20, equal to an annualized payout of $9.00 and a 4.2% yield. Meanwhile, analysts remain cautious overall, with an average rating of Hold and a consensus price target of $209.64.

Corient Private Wealth LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,725 shares of the real estate investment trust's stock after buying an additional 7,562 shares during the period. Corient Private Wealth LLC's holdings in Simon Property Group were worth $15,746,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Clark Capital Management Group Inc. lifted its stake in shares of Simon Property Group by 1.7% in the third quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust's stock valued at $46,361,000 after purchasing an additional 4,177 shares during the period. Aew Capital Management L P raised its holdings in shares of Simon Property Group by 90.9% in the third quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust's stock worth $99,494,000 after acquiring an additional 252,510 shares during the last quarter. Union Bancaire Privee UBP SA lifted its holdings in Simon Property Group by 22.6% in the 4th quarter. Union Bancaire Privee UBP SA now owns 39,366 shares of the real estate investment trust's stock valued at $7,287,000 after purchasing an additional 7,266 shares in the last quarter. Danske Bank A S lifted its stake in shares of Simon Property Group by 11.1% during the fourth quarter. Danske Bank A S now owns 193,946 shares of the real estate investment trust's stock valued at $35,901,000 after buying an additional 19,300 shares during the period. Finally, Davis Selected Advisers boosted its holdings in shares of Simon Property Group by 30.7% during the third quarter. Davis Selected Advisers now owns 76,733 shares of the real estate investment trust's stock worth $14,400,000 after purchasing an additional 18,010 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of SPG opened at $216.86 on Wednesday. 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 stock has a market capitalization of $70.33 billion, a P/E ratio of 15.07, a P/E/G ratio of 3.88 and a beta of 1.31. Simon Property Group, Inc. has a 12-month low of $157.05 and a 12-month high of $220.43. The firm's 50 day moving average is $205.87 and its 200-day moving average is $195.25.

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 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 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 earned $2.95 EPS. The company'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. Equities research analysts anticipate that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 4.2%. 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 is presently 62.54%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SPG shares. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the company a "neutral" rating in a report on Monday, June 1st. 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 report on Tuesday, May 19th. Weiss Ratings upgraded Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 15th. Citigroup raised their price target on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Stifel Nicolaus upped their price target on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average price target of $209.64.

Simon Property Group 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.

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