Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 194,602 shares of the real estate investment trust's stock after buying an additional 2,782 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Simon Property Group worth $32,318,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC grew its holdings in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group during the 4th quarter valued at approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Simon Property Group stock traded down $0.16 during trading hours on Wednesday, hitting $156.97. 1,476,013 shares of the company traded hands, compared to its average volume of 1,544,571. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The firm has a market cap of $51.24 billion, a P/E ratio of 25.00, a P/E/G ratio of 8.79 and a beta of 1.47. The firm's 50-day simple moving average is $158.24 and its two-hundred day simple moving average is $168.08. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data 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 net margin of 35.98% and a return on equity of 67.32%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the firm posted $3.56 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPG. JPMorgan Chase & Co. lowered their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Mizuho cut their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Scotiabank upped their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $179.44.

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.