New York State Common Retirement Fund Cuts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

New York State Common Retirement Fund lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 207,763 shares of the real estate investment trust’s stock after selling 30,400 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Simon Property Group worth $35,116,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after buying an additional 887,356 shares in the last quarter. Vanguard Group Inc. increased its holdings in Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after acquiring an additional 672,941 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Simon Property Group by 16,795.2% during the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after acquiring an additional 421,560 shares during the period. Castle Hook Partners LP lifted its holdings in Simon Property Group by 182.0% during the first quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after purchasing an additional 310,207 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Simon Property Group by 5,778.7% in the second quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after purchasing an additional 261,430 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Scotiabank raised their target price 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. Truist Financial lifted their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Mizuho increased their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $162.78.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The shares were bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 0.8 %

NYSE SPG opened at $167.70 on Friday. The business’s fifty day simple moving average is $168.55 and its 200-day simple moving average is $156.39. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a market cap of $54.68 billion, a PE ratio of 21.31, a P/E/G ratio of 9.61 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $113.40 and a 52 week high of $177.08.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 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 analysts’ expectations of $1.30 billion. During the same period last year, the firm earned $2.88 earnings per share. Simon Property Group’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 5.01%. Simon Property Group’s dividend payout ratio is currently 104.19%.

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.