Retirement Systems of Alabama Lowers Position in Simon Property Group, Inc. (NYSE:SPG)

Retirement Systems of Alabama decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 4.1% during the 4th quarter, Holdings Channel reports. The fund owned 243,642 shares of the real estate investment trust’s stock after selling 10,407 shares during the quarter. Retirement Systems of Alabama’s holdings in Simon Property Group were worth $41,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the third quarter valued at about $30,000. Synergy Asset Management LLC purchased a new stake in Simon Property Group during the fourth quarter worth about $41,000. Eastern Bank purchased a new stake in Simon Property Group during the third quarter worth about $42,000. Ashton Thomas Securities LLC purchased a new stake in Simon Property Group during the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Simon Property Group by 107.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.1 %

SPG stock opened at $173.30 on Wednesday. The company’s 50 day simple moving average is $175.95 and its 200-day simple moving average is $169.92. The firm has a market capitalization of $56.54 billion, a PE ratio of 23.08, a P/E/G ratio of 9.31 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Equities analysts expect that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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. This represents a $8.40 annualized dividend and a dividend yield of 4.85%. Simon Property Group’s payout ratio is 111.85%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began 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 on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.10.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

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.