California Public Employees Retirement System Has $93.91 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

California Public Employees Retirement System trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 545,291 shares of the real estate investment trust’s stock after selling 37,005 shares during the quarter. California Public Employees Retirement System’s holdings in Simon Property Group were worth $93,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. RWA Wealth Partners LLC acquired a new position in Simon Property Group during the 4th quarter worth $6,799,000. Schroder Investment Management Group increased its stake in shares of Simon Property Group by 2.5% in the fourth quarter. Schroder Investment Management Group now owns 1,022,772 shares of the real estate investment trust’s stock worth $176,132,000 after purchasing an additional 25,210 shares during the period. L & S Advisors Inc lifted its position in shares of Simon Property Group by 0.5% during the 4th quarter. L & S Advisors Inc now owns 40,133 shares of the real estate investment trust’s stock worth $6,911,000 after purchasing an additional 184 shares during the last quarter. Allianz SE bought a new stake in Simon Property Group during the 4th quarter valued at approximately $9,092,000. Finally, Biondo Investment Advisors LLC grew its holdings in Simon Property Group by 0.9% in the 4th quarter. Biondo Investment Advisors LLC now owns 67,741 shares of the real estate investment trust’s stock valued at $11,666,000 after buying an additional 600 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Up 1.2 %

Shares of SPG opened at $166.27 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market cap of $54.25 billion, a PE ratio of 22.90, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The stock has a 50 day simple moving average of $175.26 and a 200-day simple moving average of $174.54.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $180.33.

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.