Retirement Systems of Alabama Purchases 3,803 Shares of Simon Property Group, Inc. $SPG

Retirement Systems of Alabama increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 244,290 shares of the real estate investment trust’s stock after purchasing an additional 3,803 shares during the period. Retirement Systems of Alabama’s holdings in Simon Property Group were worth $45,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its position in shares of Simon Property Group by 0.9% in the 3rd quarter. Whittier Trust Co. now owns 80,919 shares of the real estate investment trust’s stock valued at $14,989,000 after acquiring an additional 688 shares during the period. Cheviot Value Management LLC acquired a new stake in Simon Property Group in the 3rd quarter valued at about $542,000. Sagespring Wealth Partners LLC grew its holdings in Simon Property Group by 10.8% during the third quarter. Sagespring Wealth Partners LLC now owns 3,465 shares of the real estate investment trust’s stock worth $650,000 after purchasing an additional 338 shares during the period. Resona Asset Management Co. Ltd. grew its holdings in Simon Property Group by 10.9% during the third quarter. Resona Asset Management Co. Ltd. now owns 197,455 shares of the real estate investment trust’s stock worth $36,785,000 after purchasing an additional 19,482 shares during the period. Finally, UniSuper Management Pty Ltd increased its position in Simon Property Group by 3.1% during the third quarter. UniSuper Management Pty Ltd now owns 121,154 shares of the real estate investment trust’s stock worth $22,737,000 after buying an additional 3,690 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $184.83 on Monday. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $60.34 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 6.85 and a beta of 1.37. The stock’s fifty day moving average price is $184.23 and its two-hundred day moving average price is $178.77. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $3.05 earnings per share. Simon Property Group’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts forecast 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. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is presently 128.09%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel purchased 216 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the transaction, the director owned 19,481 shares in the company, valued at approximately $3,623,466. This represents a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Reuben S. Leibowitz purchased 480 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, with a total value of $89,280.00. Following the completion of the purchase, the director owned 53,639 shares of the company’s stock, valued at $9,976,854. This trade represents a 0.90% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 2,192 shares of company stock valued at $407,712. 8.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SPG has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on 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. Citigroup raised their price target on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. UBS Group lifted their price objective on shares of Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Stifel Nicolaus upped 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. Finally, Scotiabank raised their target price on shares of Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.