Simon Property Group, Inc. (NYSE:SPG) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 270,070 shares of the real estate investment trust’s stock after purchasing an additional 465 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Simon Property Group worth $45,647,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in shares of Simon Property Group in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the 2nd quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group during the second quarter valued at approximately $27,000. Finally, RFP Financial Group LLC lifted its holdings in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock traded up $3.27 during mid-day trading on Friday, hitting $179.02. 972,330 shares of the stock traded hands, compared to its average volume of 1,156,906. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.04 and a current ratio of 2.00. The firm has a market cap of $58.37 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 10.44 and a beta of 1.74. The company’s 50-day simple moving average is $169.33 and its 200-day simple moving average is $157.55. Simon Property Group, Inc. has a twelve month low of $113.40 and a twelve month high of $179.46.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.20 earnings per share. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.69%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Analysts Set New Price Targets

SPG has been the topic of several analyst reports. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group 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.