New York State Common Retirement Fund Sells 6,100 Shares of Simon Property Group, Inc. $SPG

New York State Common Retirement Fund lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,663 shares of the real estate investment trust’s stock after selling 6,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Simon Property Group were worth $38,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Simon Property Group by 15.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after acquiring an additional 8,965 shares during the last quarter. Mystic Asset Management Inc. increased its position in shares of Simon Property Group by 1.1% during the 3rd quarter. Mystic Asset Management Inc. now owns 10,182 shares of the real estate investment trust’s stock valued at $1,911,000 after purchasing an additional 112 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Simon Property Group by 2.3% during the 3rd quarter. Truist Financial Corp now owns 40,333 shares of the real estate investment trust’s stock valued at $7,569,000 after buying an additional 900 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Simon Property Group by 24.2% during the 3rd quarter. Belpointe Asset Management LLC now owns 4,928 shares of the real estate investment trust’s stock valued at $925,000 after buying an additional 960 shares in the last quarter. Finally, Chilton Capital Management LLC lifted its position in Simon Property Group by 7.5% in the 3rd quarter. Chilton Capital Management LLC now owns 5,072 shares of the real estate investment trust’s stock worth $952,000 after buying an additional 353 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI increased their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a report on Friday, January 16th. Truist Financial boosted their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Piper Sandler upped their price target on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $194.64.

Simon Property Group Trading Up 0.8%

Shares of SPG opened at $191.34 on Friday. The stock has a market capitalization of $62.47 billion, a P/E ratio of 27.85, a PEG ratio of 7.04 and a beta of 1.37. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $192.25. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm has a fifty day simple moving average of $184.80 and a two-hundred day simple moving average of $179.40.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, research analysts anticipate 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. Shareholders of record on Wednesday, December 10th were issued a $2.20 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date was Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.6%. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 226 shares of Simon Property Group 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 $42,036.00. Following the completion of the purchase, the director owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glyn Aeppel bought 216 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $40,176.00. Following the acquisition, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. This represents a 1.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 2,192 shares of company stock worth $407,712. Corporate insiders own 8.66% of the company’s stock.

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.