Teachers Retirement System of The State of Kentucky Sells 1,010 Shares of Simon Property Group, Inc. (NYSE:SPG)

Teachers Retirement System of The State of Kentucky reduced its stake in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,211 shares of the real estate investment trust’s stock after selling 1,010 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Simon Property Group were worth $3,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Simon Property Group by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,342 shares of the real estate investment trust’s stock valued at $7,019,000 after purchasing an additional 3,953 shares in the last quarter. Ninety One UK Ltd raised its position in Simon Property Group by 14.5% during the first quarter. Ninety One UK Ltd now owns 125,742 shares of the real estate investment trust’s stock valued at $16,543,000 after purchasing an additional 15,878 shares in the last quarter. M Holdings Securities Inc. acquired a new position in Simon Property Group during the first quarter valued at approximately $397,000. Advisory Services Network LLC raised its position in Simon Property Group by 89.1% during the first quarter. Advisory Services Network LLC now owns 15,675 shares of the real estate investment trust’s stock valued at $2,061,000 after purchasing an additional 7,386 shares in the last quarter. Finally, Castellan Group raised its position in Simon Property Group by 27.0% during the first quarter. Castellan Group now owns 24,691 shares of the real estate investment trust’s stock valued at $3,248,000 after purchasing an additional 5,251 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $100.28 on Tuesday. Simon Property Group, Inc. has a fifty-two week low of $93.06 and a fifty-two week high of $171.12. The stock has a market cap of $34.39 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.88 and a beta of 1.49. The company has a debt-to-equity ratio of 7.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50-day simple moving average is $104.74 and its 200 day simple moving average is $112.83.

Simon Property Group (NYSE:SPGGet Rating) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.92 EPS. As a group, research analysts anticipate that Simon Property Group, Inc. will post 11.66 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a $1.75 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.70. The ex-dividend date is Thursday, September 8th. This represents a $7.00 annualized dividend and a yield of 6.98%. Simon Property Group’s dividend payout ratio (DPR) is 109.20%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SPG shares. Piper Sandler lowered their price target on shares of Simon Property Group to $130.00 in a report on Monday, July 4th. Morgan Stanley decreased their price objective on Simon Property Group from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, August 29th. Truist Financial decreased their price objective on Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a report on Monday, August 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on Simon Property Group from $173.00 to $129.00 in a report on Monday, July 18th. Finally, Jefferies Financial Group downgraded Simon Property Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $160.00 to $100.00 in a report on Thursday, June 30th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

Simon Property Group Company Profile

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Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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