Simon Property Group, Inc. (NYSE:SPG) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,039 shares of the real estate investment trust's stock after selling 11,082 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.07% of Simon Property Group worth $37,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pitcairn Co. boosted its stake in shares of Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after acquiring an additional 55 shares during the last quarter. Childress Capital Advisors LLC lifted its holdings in Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 58 shares in the last quarter. Global X Japan Co. Ltd. boosted its stake in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock worth $113,000 after purchasing an additional 59 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after buying an additional 60 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock valued at $1,074,000 after buying an additional 62 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent research reports. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Scotiabank cut their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective on the stock in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Moderate Buy" and an average target price of $178.39.

Simon Property Group Trading Up 2.1 %

Shares of Simon Property Group stock traded up $3.17 on Thursday, reaching $156.45. The company had a trading volume of 1,696,030 shares, compared to its average volume of 1,514,603. 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 firm has a market cap of $51.05 billion, a PE ratio of 21.55, a PEG ratio of 10.10 and a beta of 1.45. The firm's 50 day moving average price is $164.32 and its two-hundred day moving average price is $172.12. 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 released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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 predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.37%. Simon Property Group's dividend payout ratio (DPR) is presently 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.