California Public Employees Retirement System Sells 37,005 Shares of Simon Property Group, Inc. (NYSE:SPG)

California Public Employees Retirement System reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 545,291 shares of the real estate investment trust's stock after selling 37,005 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Simon Property Group worth $93,905,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Simon Property Group in the 4th quarter valued at $2,059,505,000. JPMorgan Chase & Co. grew its position in shares of Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after purchasing an additional 246,630 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock worth $626,419,000 after purchasing an additional 64,418 shares in the last quarter. Boston Partners raised its holdings in Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust's stock worth $431,304,000 after buying an additional 162,764 shares during the period. Finally, Amundi lifted its stake in Simon Property Group by 10.5% in the fourth quarter. Amundi now owns 1,728,738 shares of the real estate investment trust's stock valued at $301,088,000 after buying an additional 163,764 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective for the company. Jefferies Financial Group upgraded 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 upgraded 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. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $180.33.

Simon Property Group Stock Up 2.5 %

NYSE SPG traded up $4.11 during trading hours on Wednesday, hitting $170.58. 1,416,786 shares of the company traded hands, compared to its average volume of 1,444,174. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The business's 50-day moving average is $175.03 and its 200-day moving average is $174.53. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

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.