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

Key Points

• Virginia Retirement Systems reduced its Simon Property Group stake by 3.5%, selling 13,000 shares in the third quarter; institutional investors collectively own 93.01% of SPG.
• SPG shares opened at $217.84, while analysts maintain an average “Hold” rating and a $224.07 price target. The stock recently traded up 1.0% and remains within its $172.19–$238.50 one-year range.
• Simon Property Group declared a quarterly dividend of $2.25 per share, equivalent to $9.00 annually and a 4.1% yield; insiders also purchased 1,668 shares worth approximately $338,000 during the quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 362,156 shares of the real estate investment trust's stock after selling 13,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.11% of Simon Property Group worth $72,706,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Everett Harris & Co. CA raised its holdings in shares of Simon Property Group by 0.5% in the third quarter. Everett Harris & Co. CA now owns 38,755 shares of the real estate investment trust's stock valued at $7,780,000 after purchasing an additional 207 shares during the last quarter. Interchange Capital Partners LLC lifted its position in shares of Simon Property Group by 4.6% during the third quarter. Interchange Capital Partners LLC now owns 1,605 shares of the real estate investment trust's stock valued at $322,000 after purchasing an additional 71 shares in the last quarter. North Dakota State Investment Board boosted its holdings in Simon Property Group by 1.6% during the third quarter. North Dakota State Investment Board now owns 9,789 shares of the real estate investment trust's stock worth $1,965,000 after purchasing an additional 155 shares during the last quarter. Generali Asset Management SPA SGR boosted its holdings in Simon Property Group by 8.0% during the third quarter. Generali Asset Management SPA SGR now owns 3,939 shares of the real estate investment trust's stock worth $791,000 after purchasing an additional 292 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Simon Property Group by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 616,182 shares of the real estate investment trust's stock worth $123,705,000 after purchasing an additional 12,917 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Up 1.0%

Shares of Simon Property Group stock opened at $217.84 on Friday. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. The firm has a market cap of $70.48 billion, a PE ratio of 16.38, a PEG ratio of 3.32 and a beta of 1.30. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day simple moving average of $207.21 and a two-hundred day simple moving average of $205.73.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm earned $1.70 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Analysts expect that Simon Property Group, Inc. will post 13.24 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.1%. Simon Property Group's dividend payout ratio is presently 63.47%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. Stifel Nicolaus lifted their target price on Simon Property Group from $194.00 to $209.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Mizuho increased their price target on shares of Simon Property Group from $211.00 to $226.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. BNP Paribas Exane started coverage on shares of Simon Property Group in a report on Friday, October 9th. They set a "neutral" rating and a $222.00 price objective for the company. Truist Financial started coverage on shares of Simon Property Group in a research report on Friday, October 2nd. They issued a "hold" rating and a $215.00 price objective on the stock. Finally, Evercore set a $216.00 price objective on shares of Simon Property Group in a research report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of "Hold" and an average price target of $224.07.

Insiders Place Their Bets

In related news, Director Gary M. Rodkin acquired 232 shares of the stock in a transaction on Wednesday, September 30th. The stock was acquired at an average cost of $202.78 per share, for a total transaction of $47,044.96. Following the completion of the acquisition, the director directly owned 21,248 shares of the company's stock, valued at approximately $4,308,669.44. This represents a 1.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reuben S. Leibowitz purchased 480 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average price of $202.78 per share, for a total transaction of $97,334.40. Following the completion of the transaction, the director directly owned 56,277 shares of the company's stock, valued at $11,411,850.06. This represents a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 1,668 shares of company stock worth $338,237. Insiders own 8.73% of the company's stock.

Simon Property Group 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 other retail properties designed to serve both local shoppers and visitors.

The company's properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.

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