Louisiana State Employees Retirement System Cuts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Louisiana State Employees Retirement System lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 4.6% in the 4th quarter, according to the company in its most recent 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 quarter. Louisiana State Employees Retirement System’s holdings in Simon Property Group were worth $2,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after acquiring an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after acquiring an additional 887,356 shares in the last quarter. Hamlin Capital Management LLC purchased a new stake in Simon Property Group in the 4th quarter worth $109,403,000. Finally, Mizuho Securities USA LLC increased its holdings in Simon Property Group by 2,520.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after acquiring an additional 633,072 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Up 1.3 %

Shares of SPG stock opened at $186.24 on Friday. The company’s 50-day moving average price is $175.60 and its 200-day moving average price is $171.12. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. 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, Inc. has a twelve month low of $139.25 and a twelve month high of $187.10.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.51%. Simon Property Group’s payout ratio is currently 115.70%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $175.10.

About Simon Property Group

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.