Canada Post Corp Registered Pension Plan Has $3.01 Million Stock Holdings in Simon Property Group, Inc. $SPG

Canada Post Corp Registered Pension Plan grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 27.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,258 shares of the real estate investment trust’s stock after acquiring an additional 3,530 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Simon Property Group were worth $3,010,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Embree Financial Group raised its stake in shares of Simon Property Group by 2.4% in the 4th quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust’s stock valued at $447,000 after buying an additional 56 shares in the last quarter. O ROURKE & COMPANY Inc raised its stake in shares of Simon Property Group by 2.8% in the 4th quarter. O ROURKE & COMPANY Inc now owns 2,124 shares of the real estate investment trust’s stock valued at $393,000 after buying an additional 57 shares in the last quarter. Washington Trust Bank grew its holdings in shares of Simon Property Group by 3.5% in the 4th quarter. Washington Trust Bank now owns 1,776 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 60 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 25.7% in the 3rd quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 65 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Simon Property Group by 4.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,582 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.0%

Shares of NYSE:SPG opened at $199.98 on Monday. Simon Property Group, Inc. has a 12 month low of $155.44 and a 12 month high of $208.28. 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 company’s 50-day moving average price is $195.27 and its two-hundred day moving average price is $190.13. The firm has a market cap of $64.98 billion, a P/E ratio of 13.90, a P/E/G ratio of 3.62 and a beta of 1.33.

Simon Property Group (NYSE:SPG) last released 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 net margin of 70.60% and a return on equity of 104.54%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. Simon Property Group’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, research analysts forecast that Simon Property Group, Inc. will post 13.2 EPS for the current fiscal year.

Simon Property Group announced that its board has approved a stock buyback plan 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 plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.5%. This is an increase 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 payout ratio is currently 61.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Simon Property Group from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Monday, April 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $230.00 target price (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. Truist Financial upped their target price on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a report on Monday, March 2nd. Weiss Ratings upgraded Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price target on Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $202.57.

Simon Property Group 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.