Simon Property Group, Inc. $SPG Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 434,630 shares of the real estate investment trust’s stock after purchasing an additional 11,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.13% of Simon Property Group worth $81,567,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group during the second quarter worth approximately $25,000. VSM Wealth Advisory LLC acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $30,000. Silicon Valley Capital Partners purchased a new position in shares of Simon Property Group during the second quarter worth approximately $30,000. Bell Investment Advisors Inc grew its position in shares of Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Finally, Clearstead Trust LLC increased its holdings in shares of Simon Property Group by 68.4% in the 2nd quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 108 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.4%

Shares of NYSE:SPG opened at $186.84 on Wednesday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm’s 50-day simple moving average is $182.56 and its 200-day simple moving average is $175.78. The company has a market cap of $61.00 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 9.14 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $3.05 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Analyst Ratings Changes

SPG has been the subject of a number of recent research reports. Barclays increased their price target on shares of Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 18th. Truist Financial increased their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Stifel Nicolaus upped their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Finally, Scotiabank increased their price objective on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $190.46.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.