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

OMERS ADMINISTRATION Corp lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,202 shares of the real estate investment trust’s stock after selling 6,313 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Simon Property Group were worth $3,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Asset Management One Co. Ltd. raised its stake in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Merit Financial Group LLC purchased a new position in Simon Property Group during the 4th quarter worth $416,000. SG Americas Securities LLC raised its position in Simon Property Group by 48.0% during the 4th quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust’s stock valued at $1,231,000 after purchasing an additional 2,320 shares in the last quarter. Vert Asset Management LLC raised its position in Simon Property Group by 3.1% during the 4th quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust’s stock valued at $21,595,000 after purchasing an additional 3,783 shares in the last quarter. Finally, TTP Investments Inc. lifted its holdings in shares of Simon Property Group by 67.4% in the 4th quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust’s stock worth $9,885,000 after buying an additional 23,109 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $160.84 on Wednesday. The firm has a market capitalization of $52.48 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. 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 business’s 50-day moving average is $158.31 and its two-hundred day moving average is $171.07. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. The firm 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.56 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.22%. The ex-dividend date is Monday, June 9th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

Several brokerages have recently commented on SPG. Stifel Nicolaus raised their price target on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank dropped their target price on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.67.

Simon Property Group Company 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.