Ontario Teachers Pension Plan Board Sells 6,979 Shares of Simon Property Group, Inc. (NYSE:SPG)

Ontario Teachers Pension Plan Board decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 38.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,299 shares of the real estate investment trust's stock after selling 6,979 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Simon Property Group were worth $1,946,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group in the 3rd quarter valued at about $834,000. First Hawaiian Bank increased its holdings in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares in the last quarter. Asset Management One Co. Ltd. grew its position 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 worth $101,130,000 after buying an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $416,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a research report on Wednesday, April 9th. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. Finally, StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has an average rating of "Moderate Buy" and a consensus price target of $181.39.

Simon Property Group Stock Up 1.5 %

NYSE SPG traded up $2.26 during trading hours on Friday, hitting $150.31. The company's stock had a trading volume of 1,267,314 shares, compared to its average volume of 1,503,931. The company's 50-day simple moving average is $166.96 and its two-hundred day simple moving average is $172.57. The company has a market capitalization of $49.04 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.59%. Simon Property Group's payout ratio is 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.