Teacher Retirement System of Texas Sells 67,775 Shares of Simon Property Group, Inc. $SPG

Teacher Retirement System of Texas lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 54.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,171 shares of the real estate investment trust’s stock after selling 67,775 shares during the quarter. Teacher Retirement System of Texas’ holdings in Simon Property Group were worth $9,191,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SPG. Brighton Jones LLC purchased a new stake in Simon Property Group during the 4th quarter worth approximately $295,000. Avidian Wealth Enterprises LLC purchased a new stake in Simon Property Group during the 1st quarter worth approximately $255,000. Alta Advisers Ltd purchased a new stake in Simon Property Group during the 1st quarter worth approximately $230,000. Mather Group LLC. grew its position in Simon Property Group by 4.9% during the 1st quarter. Mather Group LLC. now owns 3,522 shares of the real estate investment trust’s stock worth $585,000 after purchasing an additional 166 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in Simon Property Group during the 1st quarter worth approximately $262,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG opened at $173.55 on Thursday. The firm has a fifty day moving average price of $180.20 and a 200 day moving average price of $168.17. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The stock has a market cap of $56.66 billion, a P/E ratio of 26.82, a P/E/G ratio of 12.96 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last released 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 net margin of 36.78% and a return on equity of 72.38%. 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 company 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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 5.0%. Simon Property Group’s payout ratio is 132.92%.

Analysts Set New Price Targets

Several analysts have weighed in on SPG shares. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Evercore ISI lifted their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Barclays lifted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Piper Sandler lifted their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $187.31.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 2,163 shares of company stock worth $401,605. 8.66% of the stock is currently owned by corporate insiders.

About Simon Property Group

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.