Simon Property Group, Inc. (NYSE:SPG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 521,759 shares of the real estate investment trust’s stock after selling 3,570 shares during the period. California State Teachers Retirement System owned about 0.16% of Simon Property Group worth $89,852,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SPG. Morse Asset Management Inc acquired a new stake in Simon Property Group in the third quarter valued at $155,000. SkyView Investment Advisors LLC lifted its stake in Simon Property Group by 4.3% during the third quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 158 shares during the last quarter. World Investment Advisors LLC boosted its holdings in Simon Property Group by 17.3% in the third quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 521 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group in the third quarter valued at approximately $834,000. Finally, Blankinship & Foster LLC acquired a new stake in Simon Property Group during the third quarter worth approximately $608,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 1.4 %

Shares of NYSE SPG opened at $158.78 on Tuesday. 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’s 50-day moving average is $163.19 and its two-hundred day moving average is $172.01. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a market capitalization of $51.81 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.29%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a report on Wednesday, April 9th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank decreased their target price on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $178.39.

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.