New York State Teachers Retirement System Has $55.33 Million Position in Simon Property Group, Inc. $SPG

New York State Teachers Retirement System grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 294,798 shares of the real estate investment trust’s stock after acquiring an additional 22,305 shares during the period. New York State Teachers Retirement System owned 0.09% of Simon Property Group worth $55,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Wealth Asset Management LLC grew its stake in Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after purchasing an additional 66 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 68 shares in the last quarter. PFS Partners LLC lifted its holdings in shares of Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 68 shares during the last quarter. Wealth Alliance LLC grew its stake in shares of Simon Property Group by 1.9% in the 2nd quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock valued at $618,000 after buying an additional 70 shares in the last quarter. Finally, SageView Advisory Group LLC grew its stake in shares of Simon Property Group by 3.5% in the 2nd quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 71 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Scotiabank raised their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research report on Thursday, November 13th. Stifel Nicolaus increased their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. UBS Group raised their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup upped their price objective on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Finally, Mizuho set a $192.00 target price on shares of Simon Property Group in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $191.54.

Simon Property Group Stock Performance

NYSE:SPG opened at $184.60 on Monday. The firm has a market capitalization of $60.27 billion, a PE ratio of 26.87, a PEG ratio of 8.80 and a beta of 1.37. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm’s fifty day simple moving average is $183.78 and its 200 day simple moving average is $177.30.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $2.20 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s payout ratio is 128.09%.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock purchased 363 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the acquisition, the director directly owned 43,899 shares in the company, valued at $8,165,214. This represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel acquired 216 shares of the stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the purchase, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. The trade was a 1.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 2,192 shares of company stock worth $407,712. 8.66% of the stock is currently owned by company insiders.

Simon Property Group 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.