Simon Property Group, Inc. $SPG Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Institutional ownership rose: Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Simon Property Group by 22.6% in the first quarter, bringing its holdings to 223,079 shares valued at about $41.6 million.
• Insiders also bought shares: Directors Glyn Aeppel and Daniel C. Smith both purchased SPG stock on June 30, adding to a quarter in which insiders acquired 2,387 shares total worth $533,056.
• Dividend and earnings remain solid: Simon Property Group beat quarterly earnings and revenue estimates, raised its quarterly dividend to $2.25 from $2.20, and now offers an annualized dividend of $9.00 per share with a 4.1% yield.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,079 shares of the real estate investment trust's stock after purchasing an additional 41,175 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.07% of Simon Property Group worth $41,611,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SPG. PFG Investments LLC lifted its stake in Simon Property Group by 2.2% in the 1st quarter. PFG Investments LLC now owns 2,341 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 50 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Simon Property Group by 2.3% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust's stock valued at $437,000 after acquiring an additional 52 shares during the last quarter. Veridan Wealth LLC lifted its position in shares of Simon Property Group by 1.2% in the fourth quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust's stock valued at $845,000 after acquiring an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in shares of Simon Property Group by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust's stock valued at $173,000 after acquiring an additional 55 shares in the last quarter. Finally, Embree Financial Group boosted its stake in shares of Simon Property Group by 2.4% in the fourth quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust's stock worth $447,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Activity

In other news, Director Glyn Aeppel bought 243 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the acquisition, the director directly owned 21,067 shares of the company's stock, valued at $4,705,525.12. This trade represents a 1.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel C. Smith purchased 372 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.31 per share, with a total value of $83,071.32. Following the purchase, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 2,387 shares of company stock valued at $533,056 in the last quarter. Insiders own 8.73% of the company's stock.

Simon Property Group Trading Down 0.5%

Simon Property Group stock traded down $1.00 during trading on Friday, reaching $218.71. 2,423,565 shares of the company were exchanged, compared to its average volume of 2,507,849. Simon Property Group, Inc. has a 52-week low of $159.33 and a 52-week high of $229.59. The company has a market capitalization of $70.92 billion, a P/E ratio of 15.20, a PEG ratio of 3.95 and a beta of 1.29. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50 day simple moving average is $211.32 and its two-hundred day simple moving average is $198.89.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The firm's revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities research analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $2.25 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group's payout ratio is currently 62.54%.

Analyst Ratings Changes

Several research firms recently commented on SPG. Evercore set a $215.00 price objective on Simon Property Group in a research note on Tuesday. Weiss Ratings cut shares of Simon Property Group from a "buy (a-)" rating to a "buy (b)" rating in a research note on Monday, June 29th. Truist Financial upped their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 target price for the company. in a research report on Thursday. Finally, Morgan Stanley raised their price target on shares of 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $213.07.

Simon Property Group 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.

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