Simon Property Group, Inc. $SPG Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its stake in Simon Property Group by 36.6% in the fourth quarter, selling 7,926 shares and leaving it with 13,747 shares valued at about $2.55 million.
• Simon Property Group reported better-than-expected quarterly results, with earnings of $1.48 per share and revenue of $1.76 billion, while also raising full-year guidance to 13.10–13.25 EPS.
• The REIT boosted its quarterly dividend to $2.25 per share and has an active $2 billion share buyback authorization, while analysts currently rate the stock a consensus Hold with an average price target of $205.57.

Intech Investment Management LLC decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,747 shares of the real estate investment trust's stock after selling 7,926 shares during the quarter. Intech Investment Management LLC's holdings in Simon Property Group were worth $2,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at $26,000. Atlantic Union Bankshares Corp grew its stake in shares of Simon Property Group by 143.0% in the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 123 shares in the last quarter. Tompkins Financial Corp acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $42,000. Cullen Frost Bankers Inc. grew its stake in shares of Simon Property Group by 79.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 111 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Up 0.4%

Shares of NYSE SPG opened at $203.47 on Wednesday. The company has a market capitalization of $65.98 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 3.67 and a beta of 1.31. 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 business has a 50-day moving average of $198.10 and a two-hundred day moving average of $192.06. 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 posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $2.95 EPS. The business's quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group announced that its board has authorized a stock buyback plan on Thursday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's dividend payout ratio (DPR) is presently 61.15%.

Analyst Ratings Changes

SPG has been the subject of a number of research reports. Evercore set a $207.00 price objective on Simon Property Group in a research note on Tuesday, May 12th. Scotiabank boosted their target price on 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. 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 research note on Monday. Weiss Ratings raised Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, May 18th. Finally, Stifel Nicolaus boosted their target price on Simon Property Group from $185.00 to $194.00 and gave the stock a "hold" rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $205.57.

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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