TD Asset Management Inc Lowers Holdings in Simon Property Group, Inc. $SPG

Key Points

• TD Asset Management reduced its stake in Simon Property Group by 9.4% in the fourth quarter, selling 15,947 shares and ending with 153,700 shares valued at about $28.45 million.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 versus the $1.46 estimate and revenue of $1.76 billion, up 19.3% from a year earlier.
• The REIT also raised its quarterly dividend to $2.25 per share from $2.20, putting the annualized payout at $9.00 and the yield at 4.3%.

TD Asset Management Inc trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,700 shares of the real estate investment trust's stock after selling 15,947 shares during the quarter. TD Asset Management Inc's holdings in Simon Property Group were worth $28,451,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. CYBER HORNET ETFs LLC increased its holdings 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 valued at $173,000 after acquiring an additional 55 shares in the last quarter. Embree Financial Group boosted its stake in 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 purchasing an additional 56 shares in the last quarter. O ROURKE & COMPANY Inc grew its position in 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 valued at $393,000 after purchasing an additional 57 shares during the last quarter. Washington Trust Bank grew its position in Simon Property Group by 3.5% during the 4th quarter. Washington Trust Bank now owns 1,776 shares of the real estate investment trust's stock valued at $329,000 after purchasing an additional 60 shares during the last quarter. Finally, Colonial Trust Co SC increased its stake in Simon Property Group by 25.7% during the 3rd quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 65 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $210.60 on Monday. The firm's 50-day moving average price is $200.08 and its 200-day moving average price is $192.71. Simon Property Group, Inc. has a 52-week low of $155.44 and a 52-week high of $211.23. The company has a market cap of $68.30 billion, a PE ratio of 14.64, a PEG ratio of 3.80 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

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 for the quarter, beating 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 net margin of 70.60% and a return on equity of 104.54%. The firm's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous 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, analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current year.

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 issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's payout ratio is currently 62.54%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SPG shares. Evercore set a $207.00 target price on shares of Simon Property Group in a report on Tuesday, May 12th. Scotiabank increased their price target on shares of Simon Property Group from $192.00 to $206.00 and gave the company a "sector perform" rating in a report on Tuesday, May 19th. Weiss Ratings downgraded shares of Simon Property Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, June 1st. Truist Financial upped their price objective on Simon Property Group from $181.00 to $196.00 and gave the company a "hold" rating in a research report on Monday, March 2nd. Finally, Barclays increased their target price on Simon Property Group from $201.00 to $212.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $205.57.

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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