State of Alaska Department of Revenue Boosts Stake in Simon Property Group, Inc. (NYSE:SPG)

State of Alaska Department of Revenue lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,938 shares of the real estate investment trust’s stock after buying an additional 1,238 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Simon Property Group worth $29,878,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cape Investment Advisory Inc. boosted its position in Simon Property Group by 3,200.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Simon Property Group during the fourth quarter worth $34,000. Bruce G. Allen Investments LLC purchased a new stake in Simon Property Group during the fourth quarter worth $41,000. Indiana Trust & Investment Management CO purchased a new stake in Simon Property Group during the first quarter worth $41,000. Finally, Rise Advisors LLC raised its holdings in shares of Simon Property Group by 145.9% in the first quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 162 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank boosted their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Argus boosted their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Truist Financial upped their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and an average price target of $147.60.

Simon Property Group Trading Up 0.3 %

SPG stock traded up $0.48 during trading on Wednesday, reaching $148.26. 619,439 shares of the stock traded hands, compared to its average volume of 1,498,410. The business’s 50 day moving average price is $147.79 and its 200-day moving average price is $146.79. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $157.82. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $48.32 billion, a PE ratio of 19.00, a P/E/G ratio of 9.02 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. Simon Property Group’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.74 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.40%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 101.91%.

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.