Public Employees Retirement Association of Colorado Reduces Stake in Simon Property Group Inc (NYSE:SPG)

Public Employees Retirement Association of Colorado lowered its position in Simon Property Group Inc (NYSE:SPG) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,381 shares of the real estate investment trust’s stock after selling 683 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Simon Property Group were worth $9,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashburton Jersey Ltd purchased a new stake in Simon Property Group in the second quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its holdings in Simon Property Group by 150.0% in the first quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 99 shares during the period. Marino Stram & Associates LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $32,000. Icon Wealth Partners LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $51,000. Finally, Trustcore Financial Services LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $59,000. Hedge funds and other institutional investors own 95.20% of the company’s stock.

Shares of SPG stock opened at $148.55 on Friday. The company has a debt-to-equity ratio of 7.02, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $45.69 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 2.83 and a beta of 0.52. The stock has a 50 day simple moving average of $158.98 and a 200-day simple moving average of $171.49. Simon Property Group Inc has a 1-year low of $147.21 and a 1-year high of $191.49.



Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $2.98 EPS. Analysts anticipate that Simon Property Group Inc will post 12.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.65%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Thursday, August 15th. Simon Property Group’s dividend payout ratio is presently 67.60%.

A number of brokerages have issued reports on SPG. Citigroup decreased their price target on Simon Property Group from $192.00 to $185.00 and set a “buy” rating for the company in a report on Friday, June 28th. Deutsche Bank decreased their price target on Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a report on Tuesday, June 11th. Morgan Stanley decreased their price target on Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. JPMorgan Chase & Co. decreased their price target on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. Finally, ValuEngine downgraded Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $190.62.

Simon Property Group Company Profile

Simon is a global leader 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.

See Also: Systematic Risk

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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