Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 4,877 Shares of Simon Property Group, Inc. $SPG

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,221 shares of the real estate investment trust’s stock after acquiring an additional 4,877 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Simon Property Group were worth $28,972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the second quarter valued at approximately $25,000. Richardson Financial Services Inc. boosted its holdings in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the last quarter. Clearstead Trust LLC grew its stake in shares of Simon Property Group by 68.4% in the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 108 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Simon Property Group in the first quarter valued at $47,000. Finally, TCTC Holdings LLC increased its holdings in Simon Property Group by 93.5% during the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 186 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $182.66 on Friday. 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 capitalization of $59.63 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 12.73 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. The company’s 50 day simple moving average is $180.74 and its 200 day simple moving average is $170.58.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business posted $3.05 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s payout ratio is presently 128.09%.

Insider Buying and Selling at Simon Property Group

In related news, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $62,293.25. Following the purchase, the director directly owned 32,333 shares in the company, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,121 shares of company stock worth $394,400 over the last 90 days. 8.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPG. 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 report on Monday, October 6th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Stifel Nicolaus lifted their target price on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Scotiabank boosted their target price on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Evercore ISI increased their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $189.85.

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.