Simon Property Group, Inc. $SPG Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. cut its Simon Property Group stake by 37.4% in the fourth quarter, selling 365,945 shares and ending with 612,798 shares worth about $113.4 million.
• Simon Property Group beat quarterly expectations with EPS of $1.48 versus $1.46 expected and revenue of $1.76 billion versus $1.54 billion estimated, while revenue rose 19.3% year over year.
• The company raised its dividend to $2.25 per share from $2.20 and authorized a $2.0 billion share buyback, signaling continued capital returns to shareholders.

Bessemer Group Inc. reduced its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 37.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 612,798 shares of the real estate investment trust's stock after selling 365,945 shares during the quarter. Bessemer Group Inc. owned about 0.19% of Simon Property Group worth $113,435,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SPG. Brighton Jones LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $295,000. Marshall Wace LLP boosted its holdings in shares of Simon Property Group by 316.2% in the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust's stock valued at $3,181,000 after acquiring an additional 15,033 shares during the period. Jump Financial LLC boosted its holdings in shares of Simon Property Group by 80.1% in the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust's stock valued at $2,714,000 after acquiring an additional 7,506 shares during the period. Cerity Partners LLC boosted its holdings in shares of Simon Property Group by 1.7% in the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust's stock valued at $5,745,000 after acquiring an additional 598 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Simon Property Group by 13.4% in the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust's stock valued at $4,573,000 after acquiring an additional 3,372 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Simon Property Group from $198.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Truist Financial increased their price target on Simon Property Group from $181.00 to $196.00 and gave the stock a "hold" rating in a report on Monday, March 2nd. Scotiabank increased their price target on Simon Property Group from $189.00 to $192.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 24th. Weiss Ratings raised Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, May 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $230.00 price target (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $202.57.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $199.98 on Friday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.90. The stock has a fifty day moving average price of $195.27 and a 200 day moving average price of $190.06. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.28. The company has a market cap of $64.98 billion, a PE ratio of 13.90, a P/E/G ratio of 3.67 and a beta of 1.33.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.Simon Property Group's revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current year.

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 given a $2.25 dividend. The ex-dividend date is Tuesday, June 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a yield of 4.5%. Simon Property Group's dividend payout ratio (DPR) is currently 61.15%.

Simon Property Group declared that its board has initiated a stock buyback program on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Simon Property Group Company 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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