New York State Common Retirement Fund Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

New York State Common Retirement Fund trimmed its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,463 shares of the real estate investment trust's stock after selling 8,300 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Simon Property Group worth $34,350,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the third quarter worth approximately $30,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Eastern Bank acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $45,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. 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 report on Wednesday, February 5th. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $175.10.

Simon Property Group Trading Down 1.5 %

NYSE SPG traded down $2.85 during trading on Friday, hitting $183.86. 1,367,631 shares of the company's stock traded hands, compared to its average volume of 1,294,712. The stock has a fifty day moving average of $176.29 and a two-hundred day moving average of $172.35. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13. The firm has a market cap of $59.99 billion, a P/E ratio of 25.32, a PEG ratio of 10.05 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last released 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%. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's payout ratio is 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.