Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,751 shares of the real estate investment trust's stock after acquiring an additional 2,239 shares during the period. Arizona State Retirement System's holdings in Simon Property Group were worth $15,902,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Simon Property Group in the fourth quarter valued at $2,059,505,000. Geode Capital Management LLC grew its holdings in shares of Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock worth $1,577,600,000 after buying an additional 230,982 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after buying an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after acquiring an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after acquiring an additional 542,511 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock traded down $1.76 during trading on Friday, reaching $161.69. 1,112,287 shares of the company were exchanged, compared to its average volume of 1,548,900. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $52.78 billion, a P/E ratio of 25.75, a PEG ratio of 9.02 and a beta of 1.43. The stock's 50 day moving average price is $161.31 and its 200 day moving average price is $166.08.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share 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 firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $3.56 EPS. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.20%. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Mizuho cut their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and an average target price of $178.50.

Insider Transactions at Simon Property Group

In other news, Director Larry C. Glasscock bought 396 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Glyn Aeppel purchased 234 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 2,386 shares of company stock worth $380,066 in the last quarter. Insiders own 8.66% 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.