Simon Property Group, Inc. $SPG Stake Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,200 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Simon Property Group were worth $2,604,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPG. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% in the first 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. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. WPG Advisers LLC bought a new stake in Simon Property Group in the first quarter valued at $47,000. Finally, Grove Bank & Trust lifted its stake in Simon Property Group by 231.3% in the first quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 266 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPG has been the topic of a number of recent research reports. Piper Sandler raised their target price on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Morgan Stanley raised their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Scotiabank raised their target price on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Finally, Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target on the stock. in a report on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $187.23.

Insider Activity

In other news, Director Daniel C. Smith bought 335 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the acquisition, the director directly owned 32,333 shares in the company, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glyn Aeppel bought 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the acquisition, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,163 shares of company stock valued at $401,605 over the last quarter. Insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG opened at $175.39 on Friday. The firm has a market capitalization of $57.26 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 10.83 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock’s fifty day moving average is $178.12 and its 200-day moving average is $165.96.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. Simon Property Group’s dividend payout ratio is presently 132.92%.

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.