Arizona State Retirement System Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Arizona State Retirement System lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,512 shares of the real estate investment trust’s stock after buying an additional 59 shares during the period. Arizona State Retirement System’s holdings in Simon Property Group were worth $16,104,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group in the 4th quarter valued at approximately $41,000. Finally, Synergy Asset Management LLC purchased a new position in Simon Property Group in the 4th quarter valued at approximately $41,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.49 on Thursday. The business’s fifty day moving average price is $178.03 and its two-hundred day moving average price is $174.32. The stock has a market cap of $59.87 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $178.44.

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.