Simon Property Group, Inc. $SPG Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,747 shares of the real estate investment trust’s stock after purchasing an additional 623 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Simon Property Group were worth $2,531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after purchasing an additional 267,503 shares during the last quarter. Northern Trust Corp boosted its stake in Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after purchasing an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Simon Property Group by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock valued at $608,086,000 after acquiring an additional 23,873 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SPG shares. Evercore ISI reissued an “in-line” rating and set a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Argus restated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Finally, Piper Sandler raised their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $187.23.

Simon Property Group Stock Down 1.9%

Shares of SPG opened at $175.39 on Friday. The firm has a market cap of $57.26 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 10.83 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The company’s 50-day moving average price is $178.12 and its 200 day moving average price is $165.96. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

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 (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Buying and Selling

In other news, Director Glyn Aeppel bought 208 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director owned 43,536 shares in the company, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,163 shares of company stock worth $401,605 over the last 90 days. 8.66% of the stock is owned by insiders.

Simon Property Group Profile

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.