VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 3.5% during the third quarter, Holdings Channel.com reports. The firm owned 362,156 shares of the real estate investment trust’s stock after selling 13,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Simon Property Group were worth $72,706,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Nykredit A S bought a new position in shares of Simon Property Group in the 2nd quarter valued at about $25,186,000. Corient Private Wealth LP grew its position in Simon Property Group by 64.3% in the second quarter. Corient Private Wealth LP now owns 87,140 shares of the real estate investment trust’s stock worth $19,489,000 after acquiring an additional 34,112 shares in the last quarter. Saudi Central Bank increased its stake in Simon Property Group by 88.7% during the second quarter. Saudi Central Bank now owns 22,739 shares of the real estate investment trust’s stock worth $5,086,000 after acquiring an additional 10,689 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in Simon Property Group during the second quarter worth approximately $2,234,000. Finally, NEOS Investment Management LLC increased its stake in Simon Property Group by 15.2% during the second quarter. NEOS Investment Management LLC now owns 118,677 shares of the real estate investment trust’s stock worth $26,542,000 after acquiring an additional 15,638 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on SPG shares. Truist Financial began coverage on Simon Property Group in a report on Friday, October 2nd. They issued a “hold” rating and a $215.00 target price for the company. BNP Paribas Exane started coverage on Simon Property Group in a report on Friday, October 9th. They set a “neutral” rating and a $222.00 price target on the stock. Scotiabank decreased their price target on Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Stifel Nicolaus raised their price target on Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Finally, Mizuho lifted their price objective on shares of Simon Property Group from $211.00 to $226.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $224.07.
View Our Latest Report on Simon Property Group
Insider Activity
In other Simon Property Group news, Director Gary M. Rodkin acquired 232 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average cost of $202.78 per share, with a total value of $47,044.96. Following the acquisition, the director directly owned 21,248 shares of the company’s stock, valued at approximately $4,308,669.44. The trade was a 1.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marta R. Stewart purchased 199 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $202.78 per share, for a total transaction of $40,353.22. Following the completion of the transaction, the director directly owned 18,199 shares in the company, valued at $3,690,393.22. This trade represents a 1.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 1,668 shares of company stock valued at $338,237. 8.73% of the stock is owned by corporate insiders.
Simon Property Group Trading Up 1.0%
Shares of NYSE SPG opened at $217.84 on Friday. Simon Property Group, Inc. has a twelve month low of $172.19 and a twelve month high of $238.50. The firm has a market cap of $70.48 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.32 and a beta of 1.30. The business has a fifty day simple moving average of $207.21 and a two-hundred day simple moving average of $205.73. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19.
Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $1.70 earnings per share. The company’s revenue 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, September 9th. Simon Property Group’s payout ratio is presently 63.47%.
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 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.
Read More
- Five stocks we like better than Simon Property Group
- Amazon’s Record Margins Couldn’t Stop the Sell-Off—Here’s Why
- DoorDash’s $17 Billion Bet on Instacart Faces a Long Regulatory Road Ahead
- FTC Puts A Wrinkle In the Cintas and UniFirst Merger
- Breaching the Valuation: The Real Reason Fortinet Dropped
Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG – Free Report).
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.
