Simon Property Group (NYSE:SPG) Reaches New 12-Month High – Should You Buy?

Shares of Simon Property Group, Inc. (NYSE:SPG) reached a new 52-week high during trading on Tuesday . The stock traded as high as $228.60 and last traded at $228.5890, with a volume of 82431 shares traded. The stock had previously closed at $225.00.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPG. Bank of America upped their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, June 29th. UBS Group set a $220.00 target price on shares of Simon Property Group in a research note on Thursday, June 18th. Truist Financial boosted their price target on shares of Simon Property Group from $196.00 to $215.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Wolfe Research downgraded shares of Simon Property Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 30th. Finally, Morgan Stanley increased their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $211.93.

Simon Property Group Trading Down 3.4%

The stock has a market capitalization of $71.19 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 4.11 and a beta of 1.29. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a fifty day moving average of $210.62 and a two-hundred day moving average of $198.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company posted $2.95 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was 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 (DPR) is 62.54%.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel bought 243 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of $223.36 per share, for a total transaction of $54,276.48. Following the acquisition, the director directly owned 21,067 shares of the company’s stock, valued at $4,705,525.12. The trade was a 1.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Reuben S. Leibowitz purchased 508 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.38 per share, with a total value of $113,477.04. Following the completion of the acquisition, the director directly owned 55,797 shares of the company’s stock, valued at approximately $12,463,933.86. This trade represents a 0.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 2,387 shares of company stock worth $533,056. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of Simon Property Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Simon Property Group by 634.5% in the third quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after acquiring an additional 6,366,711 shares during the last quarter. Norges Bank acquired a new position in Simon Property Group during the 4th quarter valued at $1,112,111,000. Bank of America Corp DE boosted its holdings in Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after purchasing an additional 491,519 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Simon Property Group by 1,329.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock worth $86,723,000 after purchasing an additional 435,721 shares during the last quarter. Finally, Bbfit Investments PTE Ltd. acquired a new stake in Simon Property Group in the 4th quarter worth $80,060,000. Institutional investors and hedge funds 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.