Public Employees Retirement System of Ohio Has $94.42 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Simon Property Group by 1.6%, owning 587,346 shares valued at approximately $94.42 million.
• Insiders at Simon Property Group purchased a total of 2,428 shares worth $387,271 in the last ninety days, indicating a positive outlook on the stock.
• Simon Property Group declared a quarterly dividend of $2.15 per share, representing a yield of 4.7%, an increase from the previous dividend of $2.10.

Public Employees Retirement System of Ohio boosted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 587,346 shares of the real estate investment trust's stock after buying an additional 9,177 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.18% of Simon Property Group worth $94,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SPG. Golden State Equity Partners lifted its position in shares of Simon Property Group by 2.7% during the 2nd quarter. Golden State Equity Partners now owns 8,616 shares of the real estate investment trust's stock worth $1,385,000 after purchasing an additional 227 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Simon Property Group by 3.7% in the second quarter. Oliver Luxxe Assets LLC now owns 35,580 shares of the real estate investment trust's stock worth $5,720,000 after acquiring an additional 1,276 shares during the last quarter. GAMMA Investing LLC increased its position in Simon Property Group by 9.8% during the second quarter. GAMMA Investing LLC now owns 5,794 shares of the real estate investment trust's stock worth $931,000 after acquiring an additional 515 shares during the period. Park Avenue Securities LLC acquired a new position in Simon Property Group during the 2nd quarter valued at $2,830,000. Finally, Avanza Fonder AB boosted its holdings in Simon Property Group by 12.1% in the 2nd quarter. Avanza Fonder AB now owns 23,797 shares of the real estate investment trust's stock valued at $3,826,000 after purchasing an additional 2,565 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In related news, Director Gary M. Rodkin acquired 246 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the purchase, the director owned 19,010 shares in the company, valued at $3,028,102.90. This trade represents a 1.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock bought 396 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the transaction, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock worth $387,271 in the last ninety days. Insiders own 8.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SPG. Argus reiterated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Piper Sandler increased 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. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Finally, Barclays began coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $186.46.

Simon Property Group Price Performance

SPG stock opened at $184.16 on Wednesday. The company's 50-day moving average price is $173.43 and its two-hundred day moving average price is $164.32. The firm has a market cap of $60.13 billion, a P/E ratio of 28.46, a P/E/G ratio of 10.97 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $2.90 earnings per share. Simon Property Group's revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.7%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's dividend payout ratio is currently 132.92%.

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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