Board of the Pension Protection Fund Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Board of the Pension Protection Fund bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,600 shares of the real estate investment trust's stock, valued at approximately $930,000. Simon Property Group accounts for 1.1% of Board of the Pension Protection Fund's investment portfolio, making the stock its 26th biggest position.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after buying an additional 789 shares during the period. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $295,000. PNC Financial Services Group Inc. increased its holdings in shares of Simon Property Group by 7.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock valued at $62,322,000 after purchasing an additional 25,987 shares during the period. USA Financial Formulas purchased a new stake in shares of Simon Property Group in the first quarter worth approximately $717,000. Finally, Independent Advisor Alliance lifted its position in shares of Simon Property Group by 4.0% in the fourth quarter. Independent Advisor Alliance now owns 69,454 shares of the real estate investment trust's stock worth $11,961,000 after purchasing an additional 2,661 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Mizuho cut their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Scotiabank lifted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. lowered their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $179.44.

Simon Property Group Stock Performance

Shares of SPG opened at $160.70 on Friday. The company has a market capitalization of $52.45 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 8.78 and a beta of 1.47. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The company's fifty day moving average price is $159.47 and its 200 day moving average price is $167.03.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $3.56 earnings per share. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.23%. Simon Property Group's dividend payout ratio is 133.76%.

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.

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