New York State Teachers Retirement System Sells 4,816 Shares of Simon Property Group, Inc. $SPG

New York State Teachers Retirement System reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 289,982 shares of the real estate investment trust’s stock after selling 4,816 shares during the quarter. New York State Teachers Retirement System’s holdings in Simon Property Group were worth $53,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Brighton Jones LLC bought a new position in Simon Property Group in the fourth quarter worth $295,000. Marshall Wace LLP raised its stake in Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after acquiring an additional 15,033 shares in the last quarter. Jump Financial LLC raised its stake in Simon Property Group by 80.1% during the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock worth $2,714,000 after acquiring an additional 7,506 shares in the last quarter. Cerity Partners LLC raised its stake in Simon Property Group by 1.7% during the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock worth $5,745,000 after acquiring an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock worth $4,573,000 after acquiring an additional 3,372 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPG. Scotiabank raised their target price on Simon Property Group from $189.00 to $192.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 24th. Morgan Stanley set a $205.00 price target on Simon Property Group in a report on Friday, January 16th. JPMorgan Chase & Co. raised their price target on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Evercore raised their price target on Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. Finally, Mizuho set a $192.00 price target on Simon Property Group in a report on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $200.14.

Simon Property Group Trading Down 0.6%

NYSE:SPG opened at $202.57 on Friday. Simon Property Group, Inc. has a fifty-two week low of $155.44 and a fifty-two week high of $208.28. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $65.82 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 6.70 and a beta of 1.37. The business’s 50-day simple moving average is $195.18 and its 200-day simple moving average is $188.45.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the business posted $3.68 EPS. Simon Property Group’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 13.19 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a share buyback plan on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, March 10th. Simon Property Group’s payout ratio is 62.06%.

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.