OMERS ADMINISTRATION Corp Sells 6,313 Shares of Simon Property Group, Inc. (NYSE:SPG)

OMERS ADMINISTRATION Corp decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,202 shares of the real estate investment trust’s stock after selling 6,313 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Simon Property Group were worth $3,823,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Simon Property Group by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,025 shares of the real estate investment trust’s stock worth $6,367,000 after purchasing an additional 1,505 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Simon Property Group by 1.5% in the fourth quarter. Lazard Asset Management LLC now owns 96,745 shares of the real estate investment trust’s stock worth $16,659,000 after purchasing an additional 1,441 shares during the last quarter. Land & Buildings Investment Management LLC increased its holdings in shares of Simon Property Group by 358.6% in the fourth quarter. Land & Buildings Investment Management LLC now owns 134,376 shares of the real estate investment trust’s stock worth $23,141,000 after purchasing an additional 105,076 shares during the last quarter. Lighthouse Investment Partners LLC lifted its position in shares of Simon Property Group by 43.8% in the fourth quarter. Lighthouse Investment Partners LLC now owns 115,000 shares of the real estate investment trust’s stock worth $19,804,000 after buying an additional 35,000 shares in the last quarter. Finally, Ethic Inc. boosted its stake in Simon Property Group by 26.8% during the fourth quarter. Ethic Inc. now owns 52,476 shares of the real estate investment trust’s stock valued at $9,037,000 after buying an additional 11,095 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Scotiabank decreased their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.67.

Simon Property Group Stock Down 6.2%

Shares of SPG opened at $160.84 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business has a fifty day moving average of $158.31 and a 200 day moving average of $171.07. The company has a market cap of $52.48 billion, a PE ratio of 22.15, a P/E/G ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.56 earnings per share. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.22%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.