California State Teachers Retirement System Trims Stock Position in Simon Property Group, Inc. $SPG

California State Teachers Retirement System lessened its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 470,733 shares of the real estate investment trust's stock after selling 45,727 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Simon Property Group worth $105,279,435 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of Simon Property Group during the 2nd quarter valued at about $27,000. Osbon Capital Management LLC bought a new stake in Simon Property Group in the 2nd quarter valued at about $32,000. Fiduciary Financial Advisors purchased a new position in Simon Property Group in the second quarter worth $34,000. N.E.W. Advisory Services LLC increased its stake in shares of Simon Property Group by 335.0% during the second quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 134 shares during the period. Finally, WPG Advisers LLC increased its holdings in shares of Simon Property Group by 40.3% in the 2nd quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 52 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gary M. Rodkin acquired 256 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.34 per share, with a total value of $57,175.04. Following the completion of the purchase, the director directly owned 21,016 shares in the company, valued at $4,693,713.44. This trade represents a 1.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glyn Aeppel acquired 243 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the transaction, the director directly owned 21,067 shares in the company, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by company insiders.

Simon Property Group Price Performance

Shares of SPG traded down $0.56 during mid-day trading on Tuesday, hitting $204.41. 348,208 shares of the stock were exchanged, compared to its average volume of 1,652,577. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. The company has a market cap of $66.14 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 3.09 and a beta of 1.28. The firm has a 50-day moving average of $220.34 and a two-hundred day moving average of $208.82. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.64 by ($0.15). The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.4%. Simon Property Group's dividend payout ratio is 63.47%.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of Simon Property Group from $199.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Bank of America raised their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a report on Monday, June 1st. Morgan Stanley upped their price target on Simon Property Group from $205.00 to $207.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price objective for the company. in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and a consensus target price of $228.43.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.

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