Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,060 shares of the real estate investment trust’s stock after selling 291 shares during the period. Kentucky Retirement Systems’ holdings in Simon Property Group were worth $3,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. Signaturefd LLC grew its holdings in Simon Property Group by 9.7% in the third quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 486 shares during the last quarter. Eastern Bank acquired a new position in shares of Simon Property Group during the 3rd quarter worth $42,000. International Assets Investment Management LLC boosted its position in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after buying an additional 887,356 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Simon Property Group by 29.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock valued at $1,389,000 after acquiring an additional 1,871 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Simon Property Group by 8.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock valued at $1,293,000 after acquiring an additional 607 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 1.5 %

Shares of NYSE:SPG opened at $183.86 on Friday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market cap of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.05 and a beta of 1.74. The stock’s 50-day moving average price is $176.37 and its two-hundred day moving average price is $172.60. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group’s payout ratio is 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several research reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average target price of $175.10.

Simon Property Group 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.