Simon Property Group, Inc. $SPG Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 434,630 shares of the real estate investment trust’s stock after acquiring an additional 11,561 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Simon Property Group were worth $81,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Simon Property Group during the second quarter worth about $1,051,262,000. JPMorgan Chase & Co. lifted its position 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 valued at $1,046,943,000 after acquiring an additional 1,660,188 shares during the period. Resolution Capital Ltd boosted its stake in shares of Simon Property Group by 45.8% during the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after acquiring an additional 565,084 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Simon Property Group by 354.5% in the 1st quarter. Acadian Asset Management LLC now owns 530,630 shares of the real estate investment trust’s stock worth $88,115,000 after acquiring an additional 413,871 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter worth approximately $60,849,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPG. Stifel Nicolaus lifted their price objective on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Argus reaffirmed a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Scotiabank boosted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Piper Sandler raised their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.46.

Simon Property Group Stock Performance

NYSE SPG opened at $186.84 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The business has a fifty day moving average of $182.56 and a 200-day moving average of $175.78. The stock has a market cap of $61.00 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 9.14 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last posted 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. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company earned $3.05 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 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 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s payout ratio is presently 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.