Harvest Portfolios Group Inc. Sells 3,608 Shares of Simon Property Group, Inc. $SPG

Harvest Portfolios Group Inc. trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 33.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,290 shares of the real estate investment trust’s stock after selling 3,608 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Simon Property Group were worth $1,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Embree Financial Group grew its position in shares of Simon Property Group by 2.4% in the fourth quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust’s stock valued at $447,000 after purchasing an additional 56 shares during the last quarter. O ROURKE & COMPANY Inc grew its position in shares of Simon Property Group by 2.8% in the fourth quarter. O ROURKE & COMPANY Inc now owns 2,124 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 57 shares during the last quarter. Washington Trust Bank grew its position in shares of Simon Property Group by 3.5% in the fourth quarter. Washington Trust Bank now owns 1,776 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 60 shares during the last quarter. Colonial Trust Co SC grew its position in shares of Simon Property Group by 25.7% in the third quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 65 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Simon Property Group by 4.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,582 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 65 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $230.00 target price (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Barclays upped their target price on Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday. Evercore set a $207.00 target price on Simon Property Group in a research report on Tuesday, May 12th. Citigroup upped their target price on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Stifel Nicolaus upped their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $205.07.

Simon Property Group Trading Up 1.6%

Shares of NYSE:SPG opened at $204.05 on Thursday. The company has a market capitalization of $66.31 billion, a P/E ratio of 14.18, a P/E/G ratio of 3.63 and a beta of 1.33. Simon Property Group, Inc. has a 1 year low of $155.44 and a 1 year high of $208.28. 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 business’s 50 day simple moving average is $195.60 and its 200 day simple moving average is $190.70.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $2.25 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 61.15%.

Simon Property Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.