Public Employees Retirement Association of Colorado Trims Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Public Employees Retirement Association of Colorado cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,990 shares of the real estate investment trust’s stock after selling 1,921 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Simon Property Group were worth $7,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group in the first quarter worth $25,000. EntryPoint Capital LLC bought a new stake in Simon Property Group during the first quarter valued at about $26,000. Cape Investment Advisory Inc. lifted its position in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Simon Property Group in the first quarter worth about $33,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $34,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPG. Argus boosted their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Scotiabank boosted their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

Simon Property Group Trading Up 0.2 %

Shares of SPG opened at $152.83 on Tuesday. The company’s fifty day simple moving average is $149.80 and its 200-day simple moving average is $147.86. The company has a market cap of $49.81 billion, a P/E ratio of 19.47, a P/E/G ratio of 8.86 and a beta of 1.75. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $158.50.

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 analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company earned $2.74 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts expect that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.23%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is presently 101.91%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Company Profile

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.