California Public Employees Retirement System Reduces Holdings in Simon Property Group, Inc. $SPG

California Public Employees Retirement System lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% in the first quarter, Holdings Channel reports. The institutional investor owned 573,005 shares of the real estate investment trust’s stock after selling 6,098 shares during the quarter. California Public Employees Retirement System’s holdings in Simon Property Group were worth $106,883,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $295,000. Marshall Wace LLP increased its stake in Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after acquiring an additional 15,033 shares during the last quarter. Jump Financial LLC increased its stake in Simon Property Group by 80.1% during the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock worth $2,714,000 after acquiring an additional 7,506 shares during the last quarter. Cerity Partners LLC raised its position in Simon Property Group by 1.7% in the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 598 shares during the period. Finally, NewEdge Advisors LLC raised its position in Simon Property Group by 13.4% in the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after purchasing an additional 3,372 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin purchased 256 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.34 per share, with a total value of $57,175.04. Following the completion of the transaction, the director owned 21,016 shares of the company’s stock, valued at $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel C. Smith acquired 372 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $223.31 per share, with a total value of $83,071.32. Following the purchase, the director owned 34,480 shares of the company’s stock, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by company insiders.

Simon Property Group Trading Down 0.0%

SPG opened at $228.47 on Friday. Simon Property Group, Inc. has a 52 week low of $159.70 and a 52 week high of $231.53. The business has a fifty day simple moving average of $213.40 and a 200-day simple moving average of $200.15. The firm has a market cap of $74.09 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.95 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $2.95 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, equities analysts expect that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date was Tuesday, June 9th. Simon Property Group’s payout ratio is currently 62.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Scotiabank upped their price target on Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Stifel Nicolaus raised their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Evercore set a $215.00 target price on shares of Simon Property Group in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Finally, Truist Financial increased their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $212.21.

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.