Nuveen LLC Sells 694,367 Shares of Simon Property Group, Inc. $SPG

Nuveen LLC lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,701,151 shares of the real estate investment trust’s stock after selling 694,367 shares during the quarter. Nuveen LLC’s holdings in Simon Property Group were worth $685,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Canopy Partners LLC bought a new position in Simon Property Group in the 4th quarter worth about $229,000. Centersquare Investment Management LLC boosted its stake in Simon Property Group by 0.5% in the 4th quarter. Centersquare Investment Management LLC now owns 1,531,581 shares of the real estate investment trust’s stock worth $283,511,000 after purchasing an additional 7,600 shares during the period. Keel Point LLC boosted its stake in Simon Property Group by 4.5% in the 4th quarter. Keel Point LLC now owns 1,849 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 80 shares during the period. IFM Investors Pty Ltd boosted its stake in Simon Property Group by 2.1% in the 4th quarter. IFM Investors Pty Ltd now owns 117,514 shares of the real estate investment trust’s stock worth $21,753,000 after purchasing an additional 2,380 shares during the period. Finally, SmartHarvest Portfolios LLC bought a new position in Simon Property Group in the 4th quarter worth about $336,000. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SPG. Stifel Nicolaus raised their target price on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised their target price on Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a research note on Monday, June 1st. Truist Financial raised their target price on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Evercore set a $208.00 price target on Simon Property Group in a report on Monday. Finally, Morgan Stanley raised their price target on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $205.79.

Simon Property Group Stock Performance

NYSE:SPG opened at $214.79 on Friday. The business’s 50-day moving average price is $202.40 and its two-hundred day moving average price is $193.57. Simon Property Group, Inc. has a twelve month low of $155.44 and a twelve month high of $216.28. The stock has a market cap of $69.65 billion, a P/E ratio of 14.93, a PEG ratio of 3.85 and a beta of 1.31. 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 released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share 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 firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm posted $2.95 EPS. The company’s revenue 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. As a group, equities analysts predict that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.2%. 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. Simon Property Group’s payout ratio is 62.54%.

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.