Simon Property Group (NYSE:SPG) to Buyback $2.00 billion in Outstanding Stock

by · The Markets Daily

Simon Property Group (NYSE:SPG – Get Free Report) announced that its Board of Directors has initiated a stock buyback program on Thursday, February 5th, RTT News reports. The company plans to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $1.72 during midday trading on Thursday, hitting $197.31. The company’s stock had a trading volume of 1,876,608 shares, compared to its average volume of 1,666,929. Simon Property Group has a one year low of $136.34 and a one year high of $197.93. The stock has a fifty day moving average price of $185.48 and a 200 day moving average price of $180.28. The company has a current ratio of 0.90, a quick ratio of 1.44 and a debt-to-equity ratio of 4.42. The firm has a market capitalization of $64.42 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 7.20 and a beta of 1.39.

Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.02. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.50 billion. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $8.80 annualized dividend and a yield of 4.5%. Simon Property Group’s dividend payout ratio is presently 62.06%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Mizuho set a $192.00 price objective on shares of Simon Property Group in a research note on Friday, January 9th. Citigroup boosted their price objective on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday. Barclays reissued a “positive” rating and issued a $188.00 target price on shares of Simon Property Group in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft raised Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, January 20th. Finally, UBS Group increased their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $196.07.

Read Our Latest Research Report on SPG

Insider Buying and Selling at Simon Property Group

In other news, Director Gary M. Rodkin acquired 226 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the purchase, the director owned 19,455 shares in the company, valued at $3,618,630. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith acquired 347 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, for a total transaction of $64,542.00. Following the transaction, the director owned 32,680 shares of the company’s stock, valued at $6,078,480. This trade represents a 1.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,192 shares of company stock worth $407,712 over the last three months. 8.66% of the stock is owned by corporate insiders.

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About Simon Property Group

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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.

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