California State Teachers Retirement System decreased its position in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,460 shares of the real estate investment trust’s stock after selling 12,514 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Simon Property Group worth $96,335,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SPG. PFG Investments LLC grew its holdings in Simon Property Group by 2.2% in the first quarter. PFG Investments LLC now owns 2,341 shares of the real estate investment trust’s stock worth $437,000 after purchasing an additional 50 shares during the period. Great Valley Advisor Group Inc. grew its stake in shares of Simon Property Group by 2.3% in the 4th quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust’s stock worth $437,000 after buying an additional 52 shares during the last quarter. Veridan Wealth LLC increased its position in Simon Property Group by 1.2% during the 4th quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust’s stock valued at $845,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in Simon Property Group by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 55 shares in the last quarter. Finally, O ROURKE & COMPANY Inc raised its stake in Simon Property Group by 2.8% during the fourth quarter. O ROURKE & COMPANY Inc now owns 2,124 shares of the real estate investment trust’s stock valued at $393,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Simon Property Group Trading Down 0.5%
Simon Property Group stock opened at $235.44 on Thursday. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a one year low of $159.70 and a one year high of $238.50. The stock has a market capitalization of $76.35 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 3.06 and a beta of 1.29. The business’s fifty day moving average is $217.90 and its 200 day moving average is $202.78.
Simon Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $2.25 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group’s dividend payout ratio is currently 62.54%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on SPG shares. Evercore set a $215.00 target price on Simon Property Group in a report on Tuesday, July 7th. Barclays lifted their price target on Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. UBS Group upped their price target on shares of Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective on the stock. in a research report on Thursday, July 9th. Finally, Stifel Nicolaus lifted their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $216.14.
View Our Latest Stock Report on SPG
Insiders Place Their Bets
In related news, Director Glyn Aeppel acquired 243 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $223.36 per share, with a total value of $54,276.48. Following the completion of the purchase, the director directly owned 21,067 shares of the company’s stock, valued at $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock acquired 397 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the transaction, the director owned 45,902 shares in the company, valued at approximately $10,253,588.76. This represents a 0.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by corporate insiders.
Simon Property Group Profile
Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.
Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.
Read More
- Five stocks we like better than Simon Property Group
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.
