New York State Common Retirement Fund Cuts Stake in Simon Property Group, Inc. $SPG

New York State Common Retirement Fund lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,663 shares of the real estate investment trust’s stock after selling 6,100 shares during the period. New York State Common Retirement Fund owned about 0.06% of Simon Property Group worth $38,409,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SPG. Trust Co. of Toledo NA OH purchased a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. VSM Wealth Advisory LLC purchased a new position in Simon Property Group in the second quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new position in Simon Property Group during the second quarter valued at $30,000. Bell Investment Advisors Inc increased its position in Simon Property Group by 205.6% in the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Simon Property Group in the third quarter valued at $39,000. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 226 shares of Simon Property Group stock in a transaction that occurred 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 $3,618,630. This represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glyn Aeppel bought 216 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the purchase, the director directly owned 19,481 shares in the company, valued at approximately $3,623,466. The trade was a 1.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 2,192 shares of company stock valued at $407,712 in the last ninety days. 8.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent research reports. Barclays reaffirmed a “positive” rating and set a $188.00 price target on shares of Simon Property Group in a research report on Tuesday, January 13th. Truist Financial upped their price objective on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, December 17th. Piper Sandler increased their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Evercore ISI lifted their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Finally, UBS Group upped their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $194.64.

Simon Property Group Trading Up 0.8%

Shares of SPG opened at $191.34 on Friday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $192.25. The stock has a market cap of $62.47 billion, a PE ratio of 27.85, a P/E/G ratio of 7.04 and a beta of 1.37. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The business’s 50-day moving average price is $184.80 and its 200-day moving average price is $179.40.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date was Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

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.