Sterling Capital Management LLC Trims Stock Holdings in Simon Property Group, Inc. $SPG

Sterling Capital Management LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 7.5% in the first quarter, Holdings Channel.com reports. The firm owned 44,850 shares of the real estate investment trust’s stock after selling 3,653 shares during the quarter. Sterling Capital Management LLC’s holdings in Simon Property Group were worth $8,366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Simon Property Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock worth $8,694,610,000 after buying an additional 286,464 shares during the period. State Street Corp lifted its position in Simon Property Group by 1.5% during the 3rd 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 acquiring an additional 312,995 shares during the period. Geode Capital Management LLC lifted its position in Simon Property Group by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after acquiring an additional 363,337 shares during the period. Capital World Investors boosted its stake in Simon Property Group by 2.7% during the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after acquiring an additional 226,271 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Simon Property Group by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock worth $1,469,748,000 after acquiring an additional 569,772 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $227.13 on Friday. 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 has a 50 day moving average price of $207.23 and a 200-day moving average price of $196.03. Simon Property Group, Inc. has a 52 week low of $158.00 and a 52 week high of $228.58. The firm has a market capitalization of $73.66 billion, a PE ratio of 15.78, a P/E/G ratio of 4.07 and a beta of 1.31.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued 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 annualized dividend and a dividend yield of 4.0%. Simon Property Group’s dividend payout ratio is presently 62.54%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SPG shares. Barclays lifted their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target 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. Jefferies Financial Group raised Simon Property Group to a “strong-buy” rating in a research report on Friday. Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Finally, Scotiabank boosted their target price on Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.