Louisiana State Employees Retirement System Sells 800 Shares of Simon Property Group, Inc. (NYSE:SPG)

Louisiana State Employees Retirement System reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,500 shares of the real estate investment trust’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Simon Property Group were worth $2,841,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPG. Creative Planning boosted its holdings in shares of Simon Property Group by 4.9% in the 3rd quarter. Creative Planning now owns 79,678 shares of the real estate investment trust’s stock valued at $13,467,000 after buying an additional 3,696 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $310,000. Patton Fund Management Inc. bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $6,529,000. Bleakley Financial Group LLC boosted its stake in Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in Simon Property Group by 2.9% in the 3rd quarter. Trust Co. of Vermont now owns 4,080 shares of the real estate investment trust’s stock worth $690,000 after purchasing an additional 114 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $186.24 on Friday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $187.10. The company has a 50 day simple moving average of $175.60 and a two-hundred day simple moving average of $171.12. The stock has a market cap of $60.76 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPG. Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $175.10.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Company Profile

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.