Simon Property Group (NYSE:SPG) Hits New 1-Year High - What's Next?

Key Points

• Simon Property Group (NYSE:SPG) hit a new 52-week high, trading as high as $228.60, well above its recent close of $225.00.
• Analysts remain mixed on the stock: while several firms recently raised price targets, Wolfe Research downgraded SPG to peer perform and the consensus rating is still Hold with a target price of $211.93.
• The REIT reported solid quarterly results, beating EPS and revenue estimates, and it recently raised its quarterly dividend to $2.25 per share from $2.20, implying a 3.9% annualized yield.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $228.60 and last traded at $228.5890, with a volume of 82431 shares traded. The stock had previously closed at $225.00.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPG. Wolfe Research downgraded shares of Simon Property Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, June 30th. Evercore set a $215.00 price objective on shares of Simon Property Group in a report on Tuesday. Citigroup upped their target price on shares of Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Scotiabank increased their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Finally, Bank of America lifted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $211.93.

Simon Property Group Stock Performance

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 company has a market cap of $74.17 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 4.09 and a beta of 1.29. The stock has a 50-day moving average price of $209.31 and a 200 day moving average price of $197.66.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (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 during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $2.95 EPS. Simon Property Group's quarterly 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. As a group, analysts anticipate that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.9%. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date was Tuesday, June 9th. Simon Property Group's dividend payout ratio is currently 62.54%.

Insider Activity at Simon Property Group

In related news, Director Gary M. Rodkin bought 256 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.34 per share, with a total value of $57,175.04. Following the purchase, the director owned 21,016 shares in the company, valued at approximately $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel C. Smith bought 372 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.31 per share, with a total value of $83,071.32. Following the acquisition, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. This represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 2,387 shares of company stock valued at $533,056 over the last three months. Insiders own 8.73% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Stance Capital LLC bought a new stake in Simon Property Group in the 3rd quarter valued at approximately $26,000. Wilkerson Advisory Group LLC bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $29,000. SHP Wealth Management bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $34,000. Dynamic Wealth Strategies LLC raised its holdings in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $42,000. 93.01% of the stock is owned by institutional investors and hedge funds.

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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