Simon Property Group (NYSE:SPG) Hits New 1-Year High – Should You Buy?

Simon Property Group, Inc. (NYSE:SPG)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $214.63 and last traded at $213.3470, with a volume of 2001883 shares changing hands. The stock had previously closed at $211.89.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research report on Monday, June 1st. Weiss Ratings lowered Simon Property Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Truist Financial lifted their price target on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Evercore set a $208.00 price target on Simon Property Group in a research report on Monday. Finally, Citigroup lifted their price target on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $205.79.

Simon Property Group Trading Up 0.7%

The firm has a 50-day moving average price of $201.83 and a 200-day moving average price of $193.35. 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 cap of $69.19 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.83 and a beta of 1.31.

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

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 given a $2.25 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.2%. Simon Property Group’s payout ratio is presently 62.54%.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently bought and sold shares of SPG. Stance Capital LLC purchased a new position in Simon Property Group in the 3rd quarter worth about $26,000. Wilkerson Advisory Group LLC purchased a new position in Simon Property Group in the 4th quarter worth about $29,000. SHP Wealth Management purchased a new position in Simon Property Group in the 4th quarter worth about $34,000. Dynamic Wealth Strategies LLC raised its position in 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 worth $39,000 after buying an additional 139 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new position in Simon Property Group in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.