Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $516,000 in Simon Property Group, Inc. $SPG

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,785 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its position in Simon Property Group by 2.5% in the 4th quarter. Handelsbanken Fonder AB now owns 152,698 shares of the real estate investment trust’s stock worth $28,266,000 after purchasing an additional 3,716 shares during the period. Profund Advisors LLC raised its stake in Simon Property Group by 10.6% during the 4th quarter. Profund Advisors LLC now owns 4,618 shares of the real estate investment trust’s stock valued at $855,000 after buying an additional 444 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Simon Property Group by 5.9% during the 4th quarter. ProShare Advisors LLC now owns 68,808 shares of the real estate investment trust’s stock valued at $12,737,000 after buying an additional 3,804 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Simon Property Group by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 1,151,696 shares of the real estate investment trust’s stock valued at $213,190,000 after buying an additional 28,058 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Simon Property Group by 6.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,062 shares of the real estate investment trust’s stock worth $1,492,000 after buying an additional 456 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. Truist Financial lifted their price objective on 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 raised Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Citigroup raised their target price on Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Stifel Nicolaus boosted their price target on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Finally, Evercore set a $207.00 price target on shares of Simon Property Group in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and an average price target of $205.07.

Simon Property Group Trading Up 0.5%

Shares of SPG stock opened at $205.11 on Friday. 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 company has a market cap of $66.65 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 3.69 and a beta of 1.33. Simon Property Group, Inc. has a 1 year low of $155.44 and a 1 year high of $208.28. The firm has a fifty day moving average price of $195.87 and a 200-day moving average price of $190.90.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.Simon Property Group’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. 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 earnings per share for the current year.

Simon Property Group announced that its board has initiated a stock buyback program on Thursday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.4%. 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 presently 61.15%.

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.