Adams Diversified Equity Fund Inc. Takes $6.70 Million Position in Simon Property Group, Inc. $SPG

Adams Diversified Equity Fund Inc. purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 35,900 shares of the real estate investment trust’s stock, valued at approximately $6,696,000.

A number of other large investors have also added to or reduced their stakes in SPG. Stance Capital LLC purchased a new position in Simon Property Group during the 3rd quarter valued at about $26,000. Wilkerson Advisory Group LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $29,000. SHP Wealth Management purchased a new stake in Simon Property Group in the fourth quarter worth about $34,000. Tompkins Financial Corp bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $42,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Simon Property Group by 79.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $227.13 on Friday. The stock has a market cap of $73.66 billion, a P/E ratio of 15.78, a P/E/G ratio of 4.10 and a beta of 1.31. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s fifty day moving average is $207.23 and its 200 day moving average is $196.03. Simon Property Group, Inc. has a one year low of $158.00 and a one year high of $228.58.

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 (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts anticipate 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 announced 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 represents a $9.00 annualized dividend and a yield of 4.0%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is currently 62.54%.

Analysts Set New Price Targets

A number of analysts have recently commented on SPG shares. JPMorgan Chase & Co. lifted their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a research note on Monday, June 1st. Scotiabank increased their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Morgan Stanley raised their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Truist Financial lifted their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Finally, Barclays boosted 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 research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.71.

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.