Simon Property Group, Inc. $SPG Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its stake in Simon Property Group by 3.1% in the first quarter, owning 160,809 shares worth about $29.99 million.
• Simon Property Group reported better-than-expected first-quarter results, with EPS of $1.48 versus $1.46 expected and revenue of $1.76 billion, up 19.3% year over year.
• The REIT also raised its quarterly dividend to $2.25 per share from $2.20, implying an annualized dividend of $9.00 and a yield of about 4.0%.

Pictet Asset Management Holding SA boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,809 shares of the real estate investment trust's stock after purchasing an additional 4,886 shares during the quarter. Pictet Asset Management Holding SA's holdings in Simon Property Group were worth $29,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. Great Valley Advisor Group Inc. lifted its holdings in Simon Property Group by 2.3% during the 4th quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust's stock worth $437,000 after buying an additional 52 shares during the last quarter. Veridan Wealth LLC increased its holdings in shares of Simon Property Group by 1.2% in the fourth quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust's stock valued at $845,000 after purchasing an additional 53 shares during the period. CYBER HORNET ETFs LLC increased its stake in shares of Simon Property Group by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust's stock worth $173,000 after acquiring an additional 55 shares during the period. Embree Financial Group increased its position in Simon Property Group by 2.4% during the 4th quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust's stock worth $447,000 after purchasing an additional 56 shares during the period. Finally, O ROURKE & COMPANY Inc boosted its position in shares of 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 in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

SPG stock opened at $223.85 on Wednesday. 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 $159.33 and a 12-month high of $228.57. The stock's 50 day simple moving average is $208.10 and its 200 day simple moving average is $196.77. The firm has a market cap of $72.59 billion, a P/E ratio of 15.56, a P/E/G ratio of 4.11 and a beta of 1.31.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm's revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a dividend of $2.25 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 9th. Simon Property Group's payout ratio is presently 62.54%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America lifted their price objective on Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings upgraded Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 15th. Evercore set a $208.00 price objective on shares of Simon Property Group in a research note on Monday, June 8th. JPMorgan Chase & Co. boosted their target price on Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a report on Monday, June 1st. Finally, Barclays upped their price target on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.47.

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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