New York State Teachers Retirement System Sells 20,629 Shares of Simon Property Group, Inc. (NYSE:SPG)

New York State Teachers Retirement System lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 301,449 shares of the real estate investment trust's stock after selling 20,629 shares during the period. New York State Teachers Retirement System owned 0.09% of Simon Property Group worth $51,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning lifted its position in shares of Simon Property Group by 4.9% during the third quarter. Creative Planning now owns 79,678 shares of the real estate investment trust's stock worth $13,467,000 after purchasing an additional 3,696 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in Simon Property Group during the third quarter worth approximately $310,000. Bleakley Financial Group LLC increased its stake in Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust's stock valued at $1,044,000 after purchasing an additional 68 shares during the period. Trust Co. of Vermont raised its stake in Simon Property Group by 2.9% during the 3rd quarter. Trust Co. of Vermont now owns 4,080 shares of the real estate investment trust's stock valued at $690,000 after acquiring an additional 114 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Simon Property Group by 46.1% during the third quarter. V Square Quantitative Management LLC now owns 2,109 shares of the real estate investment trust's stock worth $356,000 after purchasing an additional 665 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE SPG traded down $0.16 on Wednesday, hitting $185.88. 783,141 shares of the company were exchanged, compared to its average volume of 1,303,497. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The company has a market cap of $60.65 billion, a P/E ratio of 25.60, a P/E/G ratio of 10.00 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a 50 day moving average of $175.91 and a two-hundred day moving average of $172.16.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly 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%. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business's stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Finally, Piper Sandler upgraded 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 research report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $175.10.

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.