VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $68.01 Million Investment in Simon Property Group, Inc. $SPG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 423,069 shares of the real estate investment trust’s stock, valued at approximately $68,013,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in Simon Property Group in the 2nd quarter valued at about $25,000. Park Square Financial Group LLC raised its holdings in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% in 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 holdings in Simon Property Group by 421.6% during the 1st 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 in the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of Simon Property Group in the 1st quarter valued at approximately $47,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Argus reaffirmed a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Evercore ISI boosted their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, Morgan Stanley increased their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $187.31.

Simon Property Group Stock Up 0.8%

Shares of NYSE SPG opened at $178.23 on Friday. The business has a 50-day moving average price of $179.20 and a 200 day moving average price of $166.31. The stock has a market cap of $58.19 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. 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, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $2.15 dividend. 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 4.8%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glyn Aeppel bought 208 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the purchase, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. 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 quarter. Corporate insiders own 8.66% of the company’s stock.

About Simon Property Group

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.