Teacher Retirement System of Texas Decreases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Teacher Retirement System of Texas decreased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,305 shares of the real estate investment trust's stock after selling 15,292 shares during the period. Teacher Retirement System of Texas owned 0.07% of Simon Property Group worth $41,211,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SPG. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter worth approximately $28,000. WR Wealth Planners LLC lifted its stake in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the fourth quarter valued at $30,000. TCTC Holdings LLC purchased a new stake in Simon Property Group in the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at $41,000. Institutional investors own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPG. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com raised shares of Simon Property Group from a "hold" rating to a "buy" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.33.

Simon Property Group Price Performance

Simon Property Group stock traded down $0.21 during midday trading on Tuesday, reaching $165.91. 1,661,777 shares of the stock were exchanged, compared to its average volume of 1,341,945. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. 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 $54.13 billion, a PE ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The company's fifty day moving average is $175.98 and its 200-day moving average is $174.45.

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%. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.

Simon Property Group 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.