Teachers Retirement System of The State of Kentucky Sells 1,314 Shares of Simon Property Group, Inc. (NYSE:SPG)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,147 shares of the real estate investment trust’s stock after selling 1,314 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Simon Property Group were worth $4,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC boosted its holdings in Simon Property Group by 16.6% during the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock valued at $38,903,000 after acquiring an additional 51,380 shares during the period. Nordea Investment Management AB grew its holdings in Simon Property Group by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after buying an additional 6,703 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $5,706,000. SG Americas Securities LLC lifted its holdings in shares of Simon Property Group by 121.5% during the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after buying an additional 17,552 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Simon Property Group by 97.8% in the fourth quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock valued at $10,708,000 after acquiring an additional 37,108 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SPG. Argus upped their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley lifted their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Scotiabank upped their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.60.

Simon Property Group Stock Down 0.8 %

SPG opened at $147.67 on Tuesday. The firm has a market cap of $48.13 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 8.85 and a beta of 1.71. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The firm’s 50-day simple moving average is $146.79 and its 200-day simple moving average is $145.79. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $157.82.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.74 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.42%. Simon Property Group’s dividend payout ratio (DPR) is 101.91%.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.