Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,060 shares of the real estate investment trust’s stock after selling 291 shares during the quarter. Kentucky Retirement Systems’ holdings in Simon Property Group were worth $3,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the third quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $41,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the 4th quarter valued at about $41,000. Eastern Bank purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.5 %

Shares of NYSE SPG opened at $183.86 on Friday. The business has a 50-day moving average price of $176.37 and a 200 day moving average price of $172.60. The stock has a market cap of $59.99 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 10.05 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group’s payout ratio is 115.70%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Mizuho raised 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 boosted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $175.10.

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.