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

Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,990 shares of the real estate investment trust's stock after acquiring an additional 1,916 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Simon Property Group were worth $1,893,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank boosted its stake in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares during the period. Red Cedar Investment Management LLC boosted its stake in Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust's stock valued at $2,973,000 after purchasing an additional 10,644 shares during the period. Versant Capital Management Inc boosted its stake in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after purchasing an additional 3,990 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and a consensus target price of $175.10.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $2.85 during midday trading on Friday, hitting $183.86. 1,367,631 shares of the company were exchanged, compared to its average volume of 1,294,712. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market cap of $59.99 billion, a P/E ratio of 25.32, a PEG ratio of 10.05 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13. The firm has a 50 day simple moving average of $176.29 and a 200-day simple moving average of $172.35.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. Research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Simon Property Group Company 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.