Teacher Retirement System of Texas Has $20.75 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Teacher Retirement System of Texas reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 47.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,946 shares of the real estate investment trust's stock after selling 114,359 shares during the quarter. Teacher Retirement System of Texas' holdings in Simon Property Group were worth $20,751,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Private Trust Co. NA raised its position in Simon Property Group by 13.6% in the first quarter. Private Trust Co. NA now owns 3,382 shares of the real estate investment trust's stock valued at $562,000 after purchasing an additional 404 shares during the last quarter. Arbor Capital Management Inc. ADV raised its position in Simon Property Group by 3.7% in the first quarter. Arbor Capital Management Inc. ADV now owns 10,999 shares of the real estate investment trust's stock valued at $1,849,000 after purchasing an additional 394 shares during the last quarter. Rossby Financial LCC bought a new position in Simon Property Group in the first quarter valued at about $88,000. DAVENPORT & Co LLC raised its position in Simon Property Group by 296.7% in the first quarter. DAVENPORT & Co LLC now owns 9,639 shares of the real estate investment trust's stock valued at $1,601,000 after purchasing an additional 7,209 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Simon Property Group by 2.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 107,907 shares of the real estate investment trust's stock valued at $17,921,000 after purchasing an additional 2,464 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 0.4%

NYSE SPG traded up $0.63 during trading hours on Friday, hitting $166.47. 925,334 shares of the company's stock were exchanged, compared to its average volume of 1,543,658. The stock has a 50-day simple moving average of $160.86 and a 200 day simple moving average of $166.38. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 9.30 and a beta of 1.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29.

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

Simon Property Group Dividend Announcement

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

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 522 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $83,149.38. Following the completion of the purchase, the director directly owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Glyn Aeppel bought 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,386 shares of company stock valued at $380,066 over the last ninety days. Insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SPG. Stifel Nicolaus increased their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. decreased their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Scotiabank increased their price target on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Finally, Piper Sandler decreased their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $178.50.

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.