National Pension Service Buys 9,673 Shares of Simon Property Group, Inc. $SPG

National Pension Service increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 1,223,015 shares of the real estate investment trust’s stock after buying an additional 9,673 shares during the quarter. National Pension Service’s holdings in Simon Property Group were worth $273,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Simon Property Group by 20,284.8% during the second quarter. California State Teachers Retirement System now owns 105,279,435 shares of the real estate investment trust’s stock valued at $23,545,746,000 after purchasing an additional 104,762,975 shares in the last quarter. Norges Bank purchased a new position in shares of Simon Property Group in the 4th quarter worth about $1,112,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Simon Property Group by 13,579.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust’s stock worth $806,167,000 after purchasing an additional 3,578,240 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Simon Property Group during the 2nd quarter valued at about $783,974,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Simon Property Group during the 2nd quarter valued at about $489,647,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 3.5%

Shares of SPG stock opened at $204.47 on Thursday. The business has a 50-day moving average of $221.57 and a 200 day moving average of $208.72. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. Simon Property Group, Inc. has a 1-year low of $172.19 and a 1-year high of $238.50. The stock has a market capitalization of $66.16 billion, a PE ratio of 14.42, a P/E/G ratio of 3.19 and a beta of 1.28.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $1.70 earnings per share. Simon Property Group’s revenue for the quarter was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group’s payout ratio is presently 63.47%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wolfe Research downgraded Simon Property Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 30th. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Citigroup boosted their price objective on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Evercore set a $215.00 price objective on shares of Simon Property Group in a research note on Tuesday, July 7th. Finally, Bank of America increased their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $228.14.

Insider Buying and Selling

In other news, Director Gary M. Rodkin purchased 256 shares of the business’s stock in a transaction on 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 acquisition, the director directly owned 21,016 shares in the company, valued at approximately $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock acquired 397 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the transaction, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,387 shares of company stock valued at $533,056 over the last quarter. Company insiders own 8.73% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.