Sterling Capital Management LLC Sells 3,653 Shares of Simon Property Group, Inc. $SPG

Sterling Capital Management LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,850 shares of the real estate investment trust’s stock after selling 3,653 shares during the period. Sterling Capital Management LLC’s holdings in Simon Property Group were worth $8,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock worth $8,694,610,000 after acquiring an additional 286,464 shares in the last quarter. State Street Corp raised its position in Simon Property Group by 1.5% during the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after purchasing an additional 312,995 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock worth $1,950,967,000 after purchasing an additional 363,337 shares in the last quarter. Capital World Investors boosted its holdings in shares of Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after purchasing an additional 226,271 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Simon Property Group by 7.7% during the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after purchasing an additional 569,772 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.7%

SPG opened at $227.13 on Friday. Simon Property Group, Inc. has a one year low of $158.00 and a one year high of $228.58. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day simple moving average of $207.23 and a two-hundred day simple moving average of $196.03. The firm has a market capitalization of $73.66 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 4.07 and a beta of 1.31.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.76 billion for 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%.The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. Simon Property Group’s payout ratio is currently 62.54%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Truist Financial boosted their target price on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday. Barclays increased their price target on shares of Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Scotiabank increased their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Finally, Evercore set a $208.00 target price on shares of Simon Property Group in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.71.

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.