Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 38.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,299 shares of the real estate investment trust’s stock after selling 6,979 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Simon Property Group were worth $1,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $149.35 on Wednesday. The business’s fifty day moving average price is $168.88 and its 200 day moving average price is $173.01. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. 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 company has a market capitalization of $48.73 billion, a PE ratio of 20.57, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent research reports. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective on the stock in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.39.

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.