Phoenix Financial Ltd. Takes $516,000 Position in Simon Property Group, Inc. $SPG

Phoenix Financial Ltd. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,792 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Donoghue Forlines LLC raised its stake in Simon Property Group by 150.6% in the fourth quarter. Donoghue Forlines LLC now owns 20,799 shares of the real estate investment trust’s stock worth $3,850,000 after buying an additional 12,499 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Simon Property Group by 3.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 97,413 shares of the real estate investment trust’s stock worth $18,032,000 after buying an additional 3,422 shares in the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in Simon Property Group in the fourth quarter worth about $23,781,000. New York Life Investment Management LLC raised its stake in Simon Property Group by 1.0% in the fourth quarter. New York Life Investment Management LLC now owns 44,798 shares of the real estate investment trust’s stock worth $8,293,000 after buying an additional 423 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Simon Property Group by 11.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 6,992 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 734 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $230.00 price target (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Barclays increased their price target on shares of Simon Property Group from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. increased 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 note on Friday, February 6th. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $202.57.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $199.98 on Friday. Simon Property Group, Inc. has a fifty-two week low of $155.44 and a fifty-two week high of $208.28. The company has a 50 day simple moving average of $195.27 and a two-hundred day simple moving average of $190.06. The company has a market capitalization of $64.98 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 3.62 and a beta of 1.33. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.90 and a current ratio of 0.84.

Simon Property Group (NYSE:SPG) last announced its earnings results 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 net margin of 70.60% and a return on equity of 104.54%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The business’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. Analysts expect that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group declared that its Board of Directors has authorized a share buyback plan on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Simon Property Group’s payout ratio is 61.15%.

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.