Simon Property Group, Inc. (NYSE:SPG) Short Interest Update
by Scott Moore · The Cerbat GemSimon Property Group, Inc. (NYSE:SPG – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 7,135,207 shares, an increase of 31.2% from the March 15th total of 5,439,607 shares. Based on an average daily volume of 2,045,768 shares, the short-interest ratio is presently 3.5 days. Approximately 2.4% of the shares of the company are sold short.
Hedge Funds Weigh In On Simon Property Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Stance Capital LLC acquired a new position in shares of Simon Property Group during the third quarter valued at $26,000. Wilkerson Advisory Group LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at $29,000. SHP Wealth Management acquired a new position in shares of Simon Property Group during the fourth quarter valued at $34,000. Atlantic Union Bankshares Corp lifted its holdings in Simon Property Group by 143.0% in the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 123 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Simon Property Group in the third quarter worth about $39,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, February 3rd. Barclays boosted their target price on shares of Simon Property Group from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup boosted their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $200.14.
Check Out Our Latest Research Report on SPG
Simon Property Group Stock Performance
Shares of SPG traded up $4.97 during midday trading on Friday, hitting $206.32. 1,344,613 shares of the stock traded hands, compared to its average volume of 1,670,118. Simon Property Group has a 1-year low of $145.84 and a 1-year high of $206.73. The firm has a market capitalization of $67.04 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 6.63 and a beta of 1.37. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $194.00 and its two-hundred day moving average price is $186.97.
Simon Property Group (NYSE:SPG – Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $3.68 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Equities research analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.
Simon Property Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
Simon Property Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were issued a dividend of $2.20 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.3%. Simon Property Group’s payout ratio is 62.06%.
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.