Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 18.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,411 shares of the real estate investment trust’s stock after acquiring an additional 8,132 shares during the period. Public Sector Pension Investment Board’s holdings in Simon Property Group were worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new position in shares of Simon Property Group during the 2nd quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the 2nd quarter worth $27,000. RFP Financial Group LLC raised its stake in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. Pathway Financial Advisers LLC purchased a new position in Simon Property Group during the first quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Simon Property Group in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $183.71 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $59.94 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74. The business has a 50-day moving average of $174.30 and a 200 day moving average of $161.30. Simon Property Group, Inc. has a 12 month low of $122.50 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.20 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.78 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Analysts Set New Price Targets

Several analysts have recently commented on SPG shares. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank raised their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Mizuho upped their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $162.78.

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.