Public Employees Retirement Association of Colorado lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,311 shares of the real estate investment trust's stock after selling 1,823 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Simon Property Group were worth $7,459,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in shares of Simon Property Group in the 3rd quarter worth approximately $155,000. SkyView Investment Advisors LLC grew its stake in Simon Property Group by 4.3% in the third quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust's stock worth $643,000 after purchasing an additional 158 shares during the period. World Investment Advisors LLC raised its holdings in Simon Property Group by 17.3% in the third quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust's stock worth $597,000 after purchasing an additional 521 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group during the third quarter valued at $834,000. Finally, Blankinship & Foster LLC bought a new stake in shares of Simon Property Group during the 3rd quarter valued at $608,000. Institutional investors own 93.01% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on SPG shares. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research note on Wednesday, April 9th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler raised 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 report on Wednesday, February 5th. Finally, Scotiabank dropped their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $178.39.
Check Out Our Latest Analysis on SPG
Simon Property Group Stock Performance
Shares of SPG traded up $1.43 during trading hours on Thursday, hitting $158.81. The stock had a trading volume of 1,347,374 shares, compared to its average volume of 1,517,936. The firm has a market capitalization of $51.82 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a 50-day moving average price of $162.06 and a 200 day moving average price of $171.81. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14.
Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (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, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.
Simon Property Group Company Profile
(
Free Report)
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.
Read More
Before you consider Simon Property Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Simon Property Group wasn't on the list.
While Simon Property Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
