Simon Property Group, Inc. $SPG Stock Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,028 shares of the real estate investment trust’s stock after selling 4,460 shares during the quarter. Retirement Systems of Alabama’s holdings in Simon Property Group were worth $49,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Nykredit A S purchased a new stake in shares of Simon Property Group in the second quarter worth approximately $25,186,000. NEOS Investment Management LLC boosted its holdings in shares of Simon Property Group by 15.2% during the second quarter. NEOS Investment Management LLC now owns 118,677 shares of the real estate investment trust’s stock worth $26,542,000 after purchasing an additional 15,638 shares during the period. Corient Private Wealth LP boosted its holdings in shares of Simon Property Group by 64.3% during the second quarter. Corient Private Wealth LP now owns 87,140 shares of the real estate investment trust’s stock worth $19,489,000 after purchasing an additional 34,112 shares during the period. Saudi Central Bank grew its position in Simon Property Group by 88.7% during the second quarter. Saudi Central Bank now owns 22,739 shares of the real estate investment trust’s stock valued at $5,086,000 after purchasing an additional 10,689 shares in the last quarter. Finally, Mystic Asset Management Inc. purchased a new position in Simon Property Group during the second quarter valued at approximately $2,234,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.8%

SPG opened at $234.79 on Wednesday. The business has a 50 day moving average price of $208.79 and a 200 day moving average price of $207.25. Simon Property Group, Inc. has a twelve month low of $177.88 and a twelve month high of $238.50. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.05 and a current ratio of 0.74. The firm has a market cap of $75.97 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 3.56 and a beta of 1.27.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $1.69 by $1.68. Simon Property Group had a return on equity of 78.14% and a net margin of 63.08%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $3.22 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. Research analysts forecast that Simon Property Group, Inc. will post 13.35 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $9.20 annualized dividend and a dividend yield of 3.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.25. Simon Property Group’s payout ratio is currently 66.38%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPG. Jefferies Financial Group dropped their price objective on shares of Simon Property Group from $278.00 to $252.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Mizuho lifted their target price on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. The Goldman Sachs Group lowered their price target on shares of Simon Property Group from $242.00 to $228.00 in a report on Wednesday, October 7th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH upped their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $228.67.

Insider Buying and Selling at Simon Property Group

In other news, Director Daniel Smith bought 350 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were acquired at an average cost of $202.78 per share, for a total transaction of $70,973.00. Following the purchase, the director owned 34,830 shares of the company’s stock, valued at $7,062,827.40. This represents a 1.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Rodkin bought 232 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average price of $202.78 per share, for a total transaction of $47,044.96. Following the acquisition, the director directly owned 21,248 shares in the company, valued at approximately $4,308,669.44. This trade represents a 1.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 1,668 shares of company stock worth $338,237 in the last quarter. 8.73% of the stock is owned by corporate insiders.

Simon Property Group Profile

Simon Property Group is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment. The company’s properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.