Strs Ohio Buys 5,903 Shares of Simon Property Group, Inc. $SPG

Strs Ohio lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,501 shares of the real estate investment trust’s stock after acquiring an additional 5,903 shares during the quarter. Strs Ohio owned 0.12% of Simon Property Group worth $71,033,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPG. Norges Bank purchased a new position in Simon Property Group during the 2nd quarter valued at $1,051,262,000. JPMorgan Chase & Co. increased its stake in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after buying an additional 1,660,188 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Simon Property Group during the 2nd quarter valued at about $68,013,000. State Street Corp boosted its position in Simon Property Group by 1.1% in the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after buying an additional 228,819 shares during the period. Finally, Aviva PLC boosted its position in Simon Property Group by 698.3% in the 2nd quarter. Aviva PLC now owns 243,931 shares of the real estate investment trust’s stock valued at $39,214,000 after buying an additional 213,374 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $185.04 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The firm has a market capitalization of $60.41 billion, a P/E ratio of 26.93, a PEG ratio of 8.80 and a beta of 1.37. The company has a 50 day moving average price of $184.19 and a 200 day moving average price of $178.42.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $2.20 dividend. The ex-dividend date was Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

Insider Activity

In related news, Director Gary M. Rodkin acquired 226 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, with a total value of $42,036.00. Following the acquisition, the director directly owned 19,455 shares in the company, valued at $3,618,630. This represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 363 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $67,518.00. Following the completion of the acquisition, the director owned 43,899 shares in the company, valued at approximately $8,165,214. This represents a 0.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,192 shares of company stock valued at $407,712 over the last quarter. Insiders own 8.66% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of a number of research reports. Piper Sandler boosted their price target on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Tuesday. Mizuho set a $192.00 price target on shares of Simon Property Group in a research report on Friday, January 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $194.64.

Simon Property Group Company 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.