Public Employees Retirement System of Ohio lessened its holdings in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 476,989 shares of the real estate investment trust’s stock after selling 6,809 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Simon Property Group were worth $106,679,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Ancora Advisors LLC purchased a new stake in shares of Simon Property Group during the second quarter valued at $27,000. Stance Capital LLC bought a new position in Simon Property Group in the 3rd quarter worth about $26,000. Osbon Capital Management LLC bought a new position in Simon Property Group in the 2nd quarter worth about $32,000. Fiduciary Financial Advisors purchased a new position in Simon Property Group during the 2nd quarter worth $34,000. Finally, Wilkerson Advisory Group LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at $29,000. 93.01% of the stock is currently owned by institutional investors.
Simon Property Group Stock Down 1.0%
NYSE:SPG opened at $214.84 on Friday. The company has a market cap of $69.51 billion, a PE ratio of 15.15, a P/E/G ratio of 2.70 and a beta of 1.30. Simon Property Group, Inc. has a twelve month low of $172.19 and a twelve month high of $238.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. The company’s 50 day moving average is $223.46 and its two-hundred day moving average is $207.87.
Simon Property Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.2%. Simon Property Group’s dividend payout ratio (DPR) is 63.47%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a report on Thursday. Evercore set a $215.00 price objective on Simon Property Group in a research note on Tuesday, July 7th. Barclays lifted their target price on Simon Property Group from $213.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 17th. LADENBURG THALM/SH SH raised their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $225.27.
Read Our Latest Analysis on Simon Property Group
Insider Buying and Selling
In related news, Director Gary M. Rodkin purchased 256 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the transaction, the director owned 21,016 shares in the company, valued at $4,693,713.44. The trade was a 1.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Larry C. Glasscock purchased 397 shares of the stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the transaction, the director directly owned 45,902 shares of the company’s stock, valued at $10,253,588.76. This represents a 0.87% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,387 shares of company stock worth $533,056 over the last three months. Corporate insiders own 8.73% of the company’s stock.
About Simon Property Group
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.
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