Retirement Systems of Alabama Has $45.85 Million Stake in Simon Property Group, Inc. $SPG

Retirement Systems of Alabama boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,290 shares of the real estate investment trust’s stock after buying an additional 3,803 shares during the period. Retirement Systems of Alabama owned approximately 0.07% of Simon Property Group worth $45,846,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in shares of Simon Property Group by 68.8% during the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock worth $20,081,000 after buying an additional 50,932 shares during the period. Highland Capital Management LLC bought a new position in Simon Property Group during the 2nd quarter worth approximately $1,196,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Simon Property Group by 8.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,798 shares of the real estate investment trust’s stock worth $22,482,000 after acquiring an additional 9,267 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Simon Property Group by 740.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock valued at $28,546,000 after purchasing an additional 156,448 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Simon Property Group by 4.4% in the third quarter. Asset Management One Co. Ltd. now owns 620,397 shares of the real estate investment trust’s stock valued at $116,430,000 after purchasing an additional 26,343 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. UBS Group lifted their target price on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, January 20th. Finally, Piper Sandler increased their target price on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $194.64.

Insiders Place Their Bets

In other Simon Property Group news, Director Glyn Aeppel purchased 216 shares of the stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost 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 approximately $3,623,466. This represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reuben S. Leibowitz acquired 480 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $89,280.00. Following the completion of the purchase, the director owned 53,639 shares in the company, valued at approximately $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,192 shares of company stock valued at $407,712 in the last quarter. Company insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $184.83 on Monday. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $60.34 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37. The stock’s 50-day moving average is $184.23 and its 200-day moving average is $178.77. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG) last announced its 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.Simon Property Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

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.