Oregon Public Employees Retirement Fund Boosts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Oregon Public Employees Retirement Fund grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,955 shares of the real estate investment trust’s stock after buying an additional 100 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Simon Property Group were worth $4,244,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $2,561,181,000. Vanguard Group Inc. boosted its position in Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the period. Panagora Asset Management Inc. grew its holdings in Simon Property Group by 11,722.9% in the 4th quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after acquiring an additional 667,034 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Simon Property Group by 134.3% in the fourth quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock valued at $80,424,000 after acquiring an additional 323,168 shares during the period. Finally, Castle Hook Partners LP raised its stake in shares of Simon Property Group by 182.0% during the first quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after acquiring an additional 310,207 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $165.08 on Thursday. The company’s fifty day moving average price is $155.33 and its 200-day moving average price is $150.94. The stock has a market cap of $53.81 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 9.17 and a beta of 1.75. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $169.18.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $2.88 earnings per share. On average, equities analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SPG shares. Stifel Nicolaus boosted their price target on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Scotiabank boosted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Argus raised their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research report on Tuesday. Finally, Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.28.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.