New York State Teachers Retirement System Trims Holdings in Simon Property Group, Inc. (NYSE:SPG)

New York State Teachers Retirement System trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 263,289 shares of the real estate investment trust's stock after selling 38,160 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Simon Property Group worth $43,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the fourth quarter valued at about $28,000. WR Wealth Planners LLC grew its stake in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 128 shares in the last quarter. Caisse Des Depots ET Consignations bought a new stake in Simon Property Group during the 4th quarter worth approximately $31,000. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new stake in Simon Property Group in the 4th quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on SPG shares. JPMorgan Chase & Co. reduced their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Barclays began coverage on Simon Property Group in a research report on Wednesday. They set an "equal weight" rating and a $170.00 target price for the company. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Scotiabank boosted their price objective on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Finally, Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $178.50.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $0.63 during trading hours on Friday, reaching $166.47. 925,334 shares of the stock traded hands, compared to its average volume of 1,541,335. The company's 50-day simple moving average is $160.66 and its two-hundred day simple moving average is $166.50. The company has a market capitalization of $54.34 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 9.30 and a beta of 1.43. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $3.56 earnings per share. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Insider Buying and Selling at Simon Property Group

In related news, Director Stefan M. Selig acquired 219 shares of the company's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $34,884.51. Following the completion of the purchase, the director owned 31,881 shares in the company, valued at $5,078,324.49. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the acquisition, the director directly owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,386 shares of company stock valued at $380,066. 8.66% of the stock is currently owned by insiders.

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.