Kentucky Retirement Systems Insurance Trust Fund Has $1.89 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 21.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,990 shares of the real estate investment trust’s stock after buying an additional 1,916 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Simon Property Group were worth $1,893,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SPG. Creative Planning increased its position in Simon Property Group by 4.9% during the third quarter. Creative Planning now owns 79,678 shares of the real estate investment trust’s stock worth $13,467,000 after buying an additional 3,696 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Simon Property Group during the third quarter worth $310,000. Blue Trust Inc. grew its position in shares of Simon Property Group by 213.4% in the third quarter. Blue Trust Inc. now owns 4,338 shares of the real estate investment trust’s stock valued at $733,000 after purchasing an additional 2,954 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of Simon Property Group by 19.2% in the third quarter. Capital Investment Advisors LLC now owns 2,995 shares of the real estate investment trust’s stock valued at $506,000 after purchasing an additional 483 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Simon Property Group by 2.4% in the third quarter. Raymond James & Associates now owns 274,616 shares of the real estate investment trust’s stock valued at $46,416,000 after purchasing an additional 6,358 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Simon Property Group Stock Up 0.5 %

NYSE SPG opened at $186.03 on Wednesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a 50-day simple moving average of $175.91 and a 200 day simple moving average of $172.16. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The stock has a market cap of $60.70 billion, a PE ratio of 25.62, a PEG ratio of 10.00 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its 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%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

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.