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

California State Teachers Retirement System lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,759 shares of the real estate investment trust’s stock after selling 3,570 shares during the quarter. California State Teachers Retirement System’s holdings in Simon Property Group were worth $89,852,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SPG. Lido Advisors LLC increased its position in Simon Property Group by 2.4% during the fourth quarter. Lido Advisors LLC now owns 15,908 shares of the real estate investment trust’s stock worth $2,740,000 after purchasing an additional 377 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after buying an additional 1,718,398 shares during the last quarter. Mission Creek Capital Partners Inc. increased its holdings in shares of Simon Property Group by 15.1% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 1,628 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 214 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Simon Property Group in the fourth quarter valued at $3,862,000. Finally, Coldstream Capital Management Inc. boosted its holdings in Simon Property Group by 3.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,318 shares of the real estate investment trust’s stock valued at $1,088,000 after acquiring an additional 204 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Simon Property Group Stock Up 1.4 %

SPG opened at $158.78 on Tuesday. The stock’s 50 day moving average price is $163.19 and its 200 day moving average price is $172.01. 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 has a market cap of $51.81 billion, a P/E ratio of 21.87, a P/E/G ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

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