State of New Jersey Common Pension Fund D Boosts Stock Holdings in Simon Property Group, Inc. $SPG

State of New Jersey Common Pension Fund D grew its position in Simon Property Group, Inc. (NYSE:SPG) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,560 shares of the real estate investment trust’s stock after acquiring an additional 1,399 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Simon Property Group worth $41,727,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SPG. Nuveen LLC purchased a new stake in shares of Simon Property Group during the first quarter worth $724,937,000. Principal Financial Group Inc. grew its stake in Simon Property Group by 133.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock valued at $532,529,000 after acquiring an additional 1,830,264 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Simon Property Group during the 1st quarter valued at about $197,377,000. Goldman Sachs Group Inc. raised its holdings in Simon Property Group by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock valued at $494,267,000 after acquiring an additional 604,016 shares during the last quarter. Finally, Resolution Capital Ltd lifted its stake in Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after purchasing an additional 565,084 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Simon Property Group stock opened at $178.27 on Friday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $58.20 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 13.10 and a beta of 1.50. The company’s 50 day simple moving average is $180.03 and its 200-day simple moving average is $167.31. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $2.90 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.8%. 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. Simon Property Group’s payout ratio is currently 132.92%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the business’s 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 $38,677.60. Following the purchase, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Smith purchased 335 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock worth $401,605 over the last 90 days. Company insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of several recent research reports. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target for the company. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Morgan Stanley lifted their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Scotiabank lifted their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Finally, Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a research note on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $187.31.

About Simon Property Group

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.