State of Alaska Department of Revenue Has $32.32 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

State of Alaska Department of Revenue increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,602 shares of the real estate investment trust’s stock after acquiring an additional 2,782 shares during the period. State of Alaska Department of Revenue’s holdings in Simon Property Group were worth $32,318,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth $295,000. Allworth Financial LP increased its holdings in shares of Simon Property Group by 140.6% during the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock worth $545,000 after purchasing an additional 1,842 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 789 shares during the period. Principal Securities Inc. raised its position in shares of Simon Property Group by 4.2% during the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock valued at $713,000 after buying an additional 166 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Simon Property Group by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock valued at $62,322,000 after buying an additional 25,987 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Scotiabank boosted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday. Piper Sandler decreased their price target on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Mizuho cut their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a report on Tuesday, June 10th. Finally, Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $179.44.

Simon Property Group Stock Down 0.5%

NYSE SPG opened at $157.13 on Wednesday. The stock has a market capitalization of $51.29 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 8.79 and a beta of 1.47. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day moving average of $158.24 and a 200-day moving average of $168.08.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.56 earnings per share. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.35%. Simon Property Group’s dividend payout ratio is currently 133.76%.

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.