Simon Property Group (NYSE:SPG) Reaches New 1-Year High - Time to Buy?

Key Points

• Simon Property Group shares reached a new 52-week high of $231.73, above the consensus analyst target of $216.14. Despite Piper Sandler’s bullish $285 target, the overall analyst consensus remains “Hold.”
• The REIT exceeded quarterly expectations, reporting $1.48 in EPS versus $1.46 expected and $1.76 billion in revenue, up 19.3% year over year.
• Simon Property Group raised its quarterly dividend to $2.25 per share, equating to a $9.00 annualized payout and a 3.9% yield; insiders have also purchased shares in the past 90 days.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $231.73 and last traded at $231.4530, with a volume of 888832 shares trading hands. The stock had previously closed at $229.78.

Analyst Ratings Changes

SPG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price objective for the company. in a report on Thursday, July 9th. Citigroup boosted their target price on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Barclays upped their price target on shares of Simon Property Group from $212.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Piper Sandler raised their price target on Simon Property Group from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Finally, UBS Group lifted their price objective on Simon Property Group from $199.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $216.14.

Simon Property Group Price Performance

The stock has a market cap of $75.06 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.97 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The company's 50-day moving average is $215.92 and its 200-day moving average is $201.73.

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 analysts' consensus estimates 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 the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The company'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. Equities research analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced 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%. The ex-dividend date of this dividend was 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%.

Insider Buying and Selling at Simon Property Group

In other news, Director Gary M. Rodkin bought 256 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the transaction, the director directly owned 21,016 shares of the company's stock, valued at $4,693,713.44. This trade represents a 1.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Marta R. Stewart purchased 182 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of $223.16 per share, with a total value of $40,615.12. Following the completion of the acquisition, the director directly owned 18,000 shares in the company, valued at $4,016,880. The trade was a 1.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,387 shares of company stock worth $533,056 over the last ninety days. Company 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 business. Stance Capital LLC acquired a new stake in Simon Property Group during the 3rd quarter valued at $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group during the fourth quarter worth $29,000. SHP Wealth Management bought a new stake in shares of Simon Property Group during the fourth quarter worth $34,000. Dynamic Wealth Strategies LLC increased its stake 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 buying an additional 139 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $46,000. 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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