State of Alaska Department of Revenue Grows Stake in Simon Property Group, Inc. (NYSE:SPG)

State of Alaska Department of Revenue raised its stake in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 1.0% during the fourth quarter, HoldingsChannel reports. The fund owned 211,253 shares of the real estate investment trust’s stock after buying an additional 2,171 shares during the period. State of Alaska Department of Revenue’s holdings in Simon Property Group were worth $24,817,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SPG. Cowa LLC purchased a new stake in shares of Simon Property Group in the first quarter worth $107,000. BlackRock Inc. grew its stake in shares of Simon Property Group by 5.6% in the third quarter. BlackRock Inc. now owns 35,534,798 shares of the real estate investment trust’s stock worth $3,189,248,000 after acquiring an additional 1,886,532 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Simon Property Group by 53.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,978,238 shares of the real estate investment trust’s stock worth $357,050,000 after acquiring an additional 1,385,651 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Simon Property Group by 4.9% in the third quarter. Cohen & Steers Inc. now owns 24,414,736 shares of the real estate investment trust’s stock worth $2,191,087,000 after acquiring an additional 1,135,612 shares during the last quarter. Finally, PGGM Investments purchased a new stake in shares of Simon Property Group during the third quarter valued at $98,410,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $4.89 during trading on Friday, hitting $104.31. The company had a trading volume of 3,488,984 shares, compared to its average volume of 1,544,577. The stock has a 50 day simple moving average of $122.36 and a 200 day simple moving average of $113.25. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.97 and a current ratio of 0.97. Simon Property Group, Inc. has a 12 month low of $86.02 and a 12 month high of $138.65. The firm has a market capitalization of $34.10 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52.

Simon Property Group (NYSE:SPG – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $2.06 EPS for the quarter, missing the consensus estimate of $3.14 by ($1.08). Simon Property Group had a return on equity of 60.33% and a net margin of 40.43%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business earned $3.09 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Thursday, March 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 110.43%.

Analyst Ratings Changes

Several equities research analysts recently commented on SPG shares. Citigroup increased their price objective on Simon Property Group from $100.00 to $120.00 in a research report on Wednesday, December 14th. Piper Sandler increased their price objective on Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. StockNews.com started coverage on Simon Property Group in a research report on Thursday. They set a “hold” rating on the stock. Mizuho dropped their price objective on Simon Property Group from $130.00 to $116.00 in a research report on Monday, March 13th. Finally, Truist Financial increased their price objective on Simon Property Group from $125.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 21st. Seven 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, the company has a consensus rating of “Hold” and an average price target of $130.58.

Simon Property Group Profile

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Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.