Simon Property Group (NYSE:SPG) Hits New 12-Month High - Here's Why

Key Points

• Simon Property Group hit a new 52-week high, trading as high as $230.82, helped by a roughly 0.8% gain in the stock. The move came despite analyst sentiment remaining mixed, with the consensus rating still at Hold.
• The REIT reported better-than-expected quarterly results, posting $1.48 EPS versus $1.46 expected and revenue of $1.76 billion, up 19.3% year over year. It also raised its full-year guidance to 13.10–13.25 EPS.
• Simon Property Group raised its quarterly dividend to $2.25 per share from $2.20, equal to an annualized $9.00 dividend and a yield of about 3.9%. Insider buying and heavy institutional ownership also suggest continued confidence in the stock.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $230.82 and last traded at $230.7640, with a volume of 117352 shares trading hands. The stock had previously closed at $228.49.

Analyst Ratings Changes

Several analysts have commented on the stock. Wolfe Research cut shares of Simon Property Group from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 30th. Truist Financial raised their price objective on Simon Property Group from $196.00 to $215.00 and gave the company a "hold" rating in a research report on Tuesday, June 23rd. Bank of America raised their price objective on Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a report on Monday, June 1st. 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 report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group currently has an average rating of "Hold" and a consensus price target of $213.07.

Simon Property Group Trading Up 0.8%

The stock has a market cap of $74.67 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.87 and a beta of 1.29. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock's fifty day moving average is $212.88 and its 200 day moving average is $199.95.

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 for the quarter, topping 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 company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The firm's revenue for the quarter 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. As a group, equities research analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share 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. Investors of record on Tuesday, June 9th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, June 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's payout ratio is currently 62.54%.

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith purchased 372 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the transaction, the director directly owned 34,480 shares in the company, valued at $7,699,728.80. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Larry C. Glasscock acquired 397 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $223.38 per share, with a total value of $88,681.86. Following the completion of the purchase, the director directly owned 45,902 shares of the company's stock, valued at $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,387 shares of company stock worth $533,056 in the last ninety days. Corporate insiders own 8.73% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

A number of large investors have recently made changes to their positions in SPG. Vanguard Group Inc. lifted its stake in Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock worth $8,694,610,000 after purchasing an additional 286,464 shares during the last quarter. State Street Corp boosted its position in shares of Simon Property Group by 1.5% during the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock valued at $4,084,730,000 after buying an additional 312,995 shares during the period. Geode Capital Management LLC grew its stake in shares of Simon Property Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust's stock valued at $1,950,967,000 after buying an additional 363,337 shares during the last quarter. Capital World Investors raised its holdings in shares of Simon Property Group by 2.7% in the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust's stock worth $1,593,872,000 after buying an additional 226,271 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock worth $1,586,089,000 after buying an additional 491,519 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

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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