Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 38.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 170,474 shares of the real estate investment trust’s stock after purchasing an additional 47,154 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Simon Property Group worth $29,357,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank boosted its stake in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the period. Versant Capital Management Inc lifted its holdings in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 421 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in Simon Property Group during the 4th quarter valued at about $416,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.3 %

NYSE:SPG opened at $164.36 on Friday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market cap of $53.63 billion, a P/E ratio of 22.64, a P/E/G ratio of 10.10 and a beta of 1.78. The firm has a 50-day simple moving average of $176.29 and a 200-day simple moving average of $174.33.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $180.33.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, 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 can be accessed through this link. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Company 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.