Simon Property Group, Inc. $SPG Stake Decreased by Aew Capital Management L P

Key Points

• Aew Capital Management cut its Simon Property Group stake by 17.2% in the fourth quarter, selling 91,188 shares and leaving it with 438,967 shares valued at about $81.3 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% from a year earlier.
• The company raised its quarterly dividend to $2.25 per share and has a $2 billion share buyback authorization in place, while analysts currently view the stock as a consensus Hold with an average target of $205.07.

Aew Capital Management L P decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 17.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 438,967 shares of the real estate investment trust's stock after selling 91,188 shares during the period. Simon Property Group comprises about 5.9% of Aew Capital Management L P's holdings, making the stock its 8th largest holding. Aew Capital Management L P owned about 0.13% of Simon Property Group worth $81,257,000 at the end of the most recent reporting period.

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

Simon Property Group Stock Performance

Shares of SPG stock opened at $204.05 on Thursday. The company's 50-day moving average is $195.60 and its 200 day moving average is $190.70. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. Simon Property Group, Inc. has a one year low of $155.44 and a one year high of $208.28. The company has a market capitalization of $66.31 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 3.63 and a beta of 1.33.

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 EPS 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $2.95 EPS. The company's 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. Sell-side analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

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

Simon Property Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SPG shares. Scotiabank upped their price target on Simon Property Group from $192.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Tuesday. Piper Sandler restated an "overweight" rating and issued a $230.00 price target (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. UBS Group upped their price target on Simon Property Group from $189.00 to $199.00 and gave the stock a "neutral" rating in a research note on Monday. Citigroup upped their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $205.07.

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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