Simon Property Group (NYSE:SPG) Sets New 12-Month High - Here's What Happened

Key Points

• Simon Property Group hit a new 52-week high, trading as high as $208.79 as shares climbed about 0.4% on Wednesday.
• Analysts have been lifting their price targets, with Barclays, JPMorgan, Citigroup, and UBS all recently raising targets; the consensus rating remains Hold with a target price of $205.07.
• The REIT reported better-than-expected Q1 earnings and also boosted its quarterly dividend to $2.25 per share, while its board has authorized a $2 billion share repurchase plan.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $208.79 and last traded at $207.9640, with a volume of 170626 shares trading hands. The stock had previously closed at $206.94.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays raised their price target on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Citigroup raised their price target 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. Weiss Ratings raised shares of Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, May 18th. Finally, UBS Group raised their price target on shares of Simon Property Group from $189.00 to $199.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $205.07.

Simon Property Group Trading Up 0.4%

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 has a market capitalization of $67.54 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 3.70 and a beta of 1.33. The firm's fifty day simple moving average is $196.92 and its 200 day simple moving average is $191.44.

Simon Property Group (NYSE:SPG - Get Free Report) last released 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 net margin of 70.60% and a return on equity of 104.54%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the firm earned $2.95 EPS. The business'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, equities research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 annualized dividend and a yield of 4.3%. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's payout ratio is 62.54%.

Simon Property Group declared that its board has approved a stock repurchase plan on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Simon Property Group

Hedge funds have recently made changes to their positions in the stock. Stance Capital LLC acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $26,000. Wilkerson Advisory Group LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $29,000. SHP Wealth Management bought a new stake in shares of Simon Property Group in the 4th quarter valued at $34,000. Atlantic Union Bankshares Corp increased its stake in shares of Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 123 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC increased its stake in shares of Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 93.01% of the stock is currently 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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