New York State Teachers Retirement System Sells 20,629 Shares of Simon Property Group, Inc. (NYSE:SPG)

New York State Teachers Retirement System decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 301,449 shares of the real estate investment trust’s stock after selling 20,629 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Simon Property Group worth $51,913,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SPG. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the third quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Eastern Bank purchased a new stake in shares of Simon Property Group in the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $185.12 on Friday. 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 stock’s fifty day moving average price is $175.69 and its 200 day moving average price is $171.22. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.14. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.