Maryland State Retirement & Pension System Grows Position in Simon Property Group, Inc. $SPG

Maryland State Retirement & Pension System increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 15,747 shares of the real estate investment trust’s stock after buying an additional 623 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Simon Property Group were worth $2,531,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SPG. Brighton Jones LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $295,000. Farther Finance Advisors LLC boosted its holdings in Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 789 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $210,000. Simon Quick Advisors LLC boosted its holdings in Simon Property Group by 24.1% in the first quarter. Simon Quick Advisors LLC now owns 2,592 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 504 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its holdings in Simon Property Group by 9.0% in the first quarter. Everhart Financial Group Inc. now owns 3,878 shares of the real estate investment trust’s stock valued at $644,000 after purchasing an additional 320 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, Director Daniel C. Smith purchased 335 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the purchase, the director directly owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glyn Aeppel purchased 208 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the purchase, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Barclays upped their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Stifel Nicolaus downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price target (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $187.23.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $175.39 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock has a 50 day moving average of $178.12 and a two-hundred day moving average of $165.96. The stock has a market cap of $57.26 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.83 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $2.90 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

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.