Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,128 shares of the real estate investment trust’s stock after selling 1,862 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Simon Property Group were worth $6,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in Simon Property Group in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group in the 1st quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group in the 2nd quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. grew its holdings in Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 192 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.3 %

Shares of Simon Property Group stock opened at $166.55 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market capitalization of $54.30 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 9.04 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $169.18. The business has a 50-day moving average of $159.20 and a two-hundred day moving average of $152.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business posted $2.88 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Insider Activity

In other news, Director Reuben S. Leibowitz purchased 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of several recent analyst reports. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho boosted their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Truist Financial boosted their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Scotiabank upped their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $162.78.

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.