Simon Property Group (NYSE:SPG) Hits New 52-Week High – What’s Next?

Simon Property Group, Inc. (NYSE:SPG)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $190.49 and last traded at $189.8820, with a volume of 74838 shares changing hands. The stock had previously closed at $189.80.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley set a $205.00 price objective on Simon Property Group in a report on Friday, January 16th. Truist Financial upped their price target on Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. UBS Group boosted their price objective on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $194.64.

Simon Property Group Stock Performance

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock’s fifty day moving average is $184.63 and its two-hundred day moving average is $179.20. The firm has a market capitalization of $61.94 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 6.82 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 4.6%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend was Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director owned 53,639 shares in the company, valued at approximately $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Larry C. Glasscock purchased 363 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, with a total value of $67,518.00. Following the acquisition, the director directly owned 43,899 shares in the company, valued at approximately $8,165,214. The trade was a 0.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 2,192 shares of company stock valued at $407,712. Company insiders own 8.66% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group during the 2nd quarter worth about $25,000. Stance Capital LLC bought a new position in Simon Property Group in the 3rd quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in Simon Property Group during the second quarter worth approximately $30,000. Silicon Valley Capital Partners acquired a new stake in Simon Property Group during the second quarter worth approximately $30,000. Finally, Bell Investment Advisors Inc boosted its holdings in shares of Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 146 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.