Simon Property Group (NYSE:SPG) Reaches New 1-Year High – Still a Buy?

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

Wall Street Analyst Weigh In

SPG has been the subject of a number of analyst reports. UBS Group increased their price target on shares of Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a report on Monday, May 18th. JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Stifel Nicolaus increased their price target on shares of Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Truist Financial raised their price objective on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Finally, Barclays raised their price objective on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $205.07.

Simon Property Group Trading Down 0.8%

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The firm has a market cap of $66.52 billion, a P/E ratio of 14.27, a P/E/G ratio of 3.74 and a beta of 1.33. The company’s 50 day simple moving average is $197.59 and its 200-day simple moving average is $191.78.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 business had revenue of $1.76 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Simon Property Group declared that its Board of Directors has approved 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors have recently modified their holdings of the stock. Alpine Woods Capital Investors LLC increased its position in shares of Simon Property Group by 24.5% during the first quarter. Alpine Woods Capital Investors LLC now owns 16,470 shares of the real estate investment trust’s stock worth $3,072,000 after acquiring an additional 3,246 shares during the period. Glenmede Trust Co. NA increased its position in shares of Simon Property Group by 0.8% during the first quarter. Glenmede Trust Co. NA now owns 85,912 shares of the real estate investment trust’s stock worth $16,025,000 after acquiring an additional 671 shares during the period. CTC Alternative Strategies Ltd. purchased a new position in shares of Simon Property Group during the first quarter worth approximately $541,000. Groupe la Francaise increased its position in shares of Simon Property Group by 8.6% during the first quarter. Groupe la Francaise now owns 45,976 shares of the real estate investment trust’s stock worth $8,576,000 after acquiring an additional 3,625 shares during the period. Finally, Western Wealth Management LLC purchased a new position in shares of Simon Property Group during the first quarter worth approximately $56,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.