Simon Property Group, Inc. $SPG Stock Position Decreased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,182 shares of the real estate investment trust’s stock after selling 4,321 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Simon Property Group were worth $4,691,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Silicon Valley Capital Partners bought a new position in shares of Simon Property Group during the second quarter valued at approximately $30,000. Evolution Wealth Management Inc. acquired a new position in Simon Property Group during the 2nd quarter valued at approximately $51,000. Centaurus Financial Inc. boosted its position in Simon Property Group by 17.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,124 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 165 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Simon Property Group during the 2nd quarter valued at approximately $786,000. Finally, Newbridge Financial Services Group Inc. grew its stake in Simon Property Group by 9.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 924 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 81 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler raised their target price on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Citigroup increased their price objective on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Barclays lifted their price objective on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 18th. Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and an average price target of $190.46.

Simon Property Group Stock Performance

Shares of SPG opened at $184.14 on Thursday. The firm has a 50-day moving average price of $180.85 and a 200 day moving average price of $174.02. The firm has a market capitalization of $60.12 billion, a PE ratio of 26.80, a P/E/G ratio of 8.90 and a beta of 1.37. 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.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion for 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%. Simon Property Group’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s payout ratio is currently 128.09%.

Insider Activity

In other news, Director Larry C. Glasscock bought 351 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased 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 directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith purchased 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,121 shares of company stock worth $394,400 in the last quarter. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Company 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.