New York State Teachers Retirement System Boosts Stock Position in Simon Property Group, Inc. $SPG

Key Points

• The New York State Teachers Retirement System increased its stake in Simon Property Group, Inc. by 3.5%, holding approximately 272,493 shares valued at around $43.8 million at the end of the last quarter.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, up from $2.10, reflecting an annualized yield of 4.9%.
• The company reported earnings of $3.05 per share for the last quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 13.9%.

New York State Teachers Retirement System lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 272,493 shares of the real estate investment trust's stock after acquiring an additional 9,204 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Simon Property Group worth $43,806,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SPG. Trust Co. of Toledo NA OH purchased a new stake in shares of Simon Property Group during the second quarter worth about $25,000. Park Square Financial Group LLC grew its stake in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of Simon Property Group during the first quarter worth about $47,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Down 1.0%

Shares of NYSE:SPG opened at $176.65 on Friday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The company has a market capitalization of $57.67 billion, a PE ratio of 27.30, a PEG ratio of 13.08 and a beta of 1.50. The business has a 50 day moving average of $178.94 and a two-hundred day moving average of $166.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $2.90 earnings per share. Simon Property Group's revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. Simon Property Group's dividend payout ratio is presently 132.92%.

Analyst Ratings Changes

A number of research firms recently commented on SPG. Scotiabank lifted their target price on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Argus reaffirmed a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Piper Sandler lifted their target price on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Truist Financial lifted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday, August 25th. Finally, JPMorgan Chase & Co. lifted their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $187.23.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 464 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $86,280.80. Following the completion of the acquisition, the director owned 58,659 shares of the company's stock, valued at $10,907,641.05. The trade was a 0.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $38,677.60. Following the completion of the purchase, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,163 shares of company stock valued at $401,605 in the last three months. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Profile

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.

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