Vestcor Inc Has $9.27 Million Stock Position in Simon Property Group, Inc. $SPG

Vestcor Inc lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 49,402 shares of the real estate investment trust’s stock after selling 12,040 shares during the period. Vestcor Inc’s holdings in Simon Property Group were worth $9,271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Simon Property Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock valued at $8,761,093,000 after buying an additional 844,190 shares during the period. State Street Corp lifted its position in shares of Simon Property Group by 1.1% in the second quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after buying an additional 228,819 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Simon Property Group by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after acquiring an additional 127,636 shares during the period. Norges Bank bought a new position in shares of Simon Property Group during the 2nd quarter worth approximately $1,051,262,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Simon Property Group by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after acquiring an additional 1,660,188 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.1%

Shares of NYSE SPG opened at $192.76 on Tuesday. The stock has a market capitalization of $62.64 billion, a P/E ratio of 13.59, a PEG ratio of 6.42 and a beta of 1.35. The stock’s fifty day moving average is $191.98 and its 200 day moving average is $185.28. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $205.12. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. Simon Property Group’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.68 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

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

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio is 62.06%.

Insider Buying and Selling at Simon Property Group

In other news, Director Gary M. Rodkin acquired 226 shares of the 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 completion of the transaction, the director directly owned 19,455 shares in the company, valued at approximately $3,618,630. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larry C. Glasscock bought 363 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $67,518.00. Following the completion of the purchase, the director directly owned 43,899 shares of the company’s stock, valued at approximately $8,165,214. The trade was a 0.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,192 shares of company stock worth $407,712 in the last three months. Company insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Mizuho set a $192.00 price target on Simon Property Group in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, January 20th. Evercore increased their price objective on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a research report on Tuesday, February 3rd. UBS Group raised their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $199.36.

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.