Westpac Banking Corp Sells 25,609 Shares of Simon Property Group, Inc. $SPG

Westpac Banking Corp lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 61.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,200 shares of the real estate investment trust’s stock after selling 25,609 shares during the period. Westpac Banking Corp’s holdings in Simon Property Group were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ontario Teachers Pension Plan Board bought a new stake in Simon Property Group during the 3rd quarter worth approximately $3,598,000. Clark Capital Management Group Inc. increased its holdings in Simon Property Group by 1.7% during the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock worth $46,361,000 after acquiring an additional 4,177 shares during the period. Aew Capital Management L P increased its holdings in Simon Property Group by 90.9% during the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock worth $99,494,000 after acquiring an additional 252,510 shares during the period. Jones Financial Companies Lllp increased its holdings in Simon Property Group by 7.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 76,322 shares of the real estate investment trust’s stock worth $14,239,000 after acquiring an additional 5,399 shares during the period. Finally, Varma Mutual Pension Insurance Co increased its holdings in Simon Property Group by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 82,349 shares of the real estate investment trust’s stock worth $15,454,000 after acquiring an additional 6,500 shares during the period. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPG. Weiss Ratings lowered shares of Simon Property Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Stifel Nicolaus increased their target price on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Evercore set a $207.00 target price on Simon Property Group in a research note on Tuesday, May 12th. Truist Financial increased their target price on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. increased their target price on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research note on Monday. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $205.57.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $203.47 on Wednesday. The stock has a market cap of $65.98 billion, a PE ratio of 14.14, a PEG ratio of 3.67 and a beta of 1.31. The company’s fifty day moving average is $198.10 and its 200 day moving average is $192.06. Simon Property Group, Inc. has a 52 week low of $155.44 and a 52 week high of $208.79. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, June 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is 61.15%.

Simon Property Group declared that its Board of Directors has approved a share repurchase program on Thursday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are 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.