Maryland State Retirement & Pension System Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

Maryland State Retirement & Pension System lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,275 shares of the real estate investment trust’s stock after selling 1,210 shares during the period. Maryland State Retirement & Pension System’s holdings in Simon Property Group were worth $2,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also 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 third quarter worth $834,000. First Hawaiian Bank raised its holdings in shares of Simon Property Group by 35.0% during the fourth 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 last quarter. Versant Capital Management Inc raised its holdings in shares of Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Simon Property Group during the fourth quarter worth $416,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.3 %

Shares of NYSE SPG opened at $164.36 on Friday. The company’s 50-day simple moving average is $176.29 and its 200-day simple moving average is $174.33. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The firm has a market cap of $53.63 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. 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 (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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 predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. 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 target price for the company. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of 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 report on Thursday, January 2nd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $180.33.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.60% of the company’s stock.

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.