Strs Ohio Has $22.89 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Strs Ohio lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 39.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,454 shares of the real estate investment trust's stock after selling 105,100 shares during the quarter. Strs Ohio's holdings in Simon Property Group were worth $22,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Arlington Trust Co LLC bought a new position in Simon Property Group in the third quarter valued at about $25,000. DT Investment Partners LLC grew its position in shares of Simon Property Group by 714.3% during the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust's stock worth $25,000 after buying an additional 200 shares during the period. Selway Asset Management bought a new stake in shares of Simon Property Group during the third quarter worth approximately $26,000. Financial Freedom LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $27,000. Finally, Tyler Stone Wealth Management bought a new position in Simon Property Group in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Down 1.4 %

Shares of Simon Property Group stock traded down $2.04 on Tuesday, hitting $140.35. The company had a trading volume of 1,301,629 shares, compared to its average volume of 1,517,775. The stock has a 50-day moving average of $149.61 and a 200-day moving average of $135.15. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The firm has a market capitalization of $45.74 billion, a P/E ratio of 20.11, a P/E/G ratio of 7.60 and a beta of 1.65.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing analysts' consensus estimates of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $3.15 earnings per share. Simon Property Group's revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group declared that its board has authorized a share repurchase plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Simon Property Group's previous quarterly dividend of $1.90. Simon Property Group's dividend payout ratio (DPR) is currently 111.75%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial upped their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the company a "hold" rating in a research report on Friday, March 22nd. Piper Sandler raised their target price on Simon Property Group from $148.00 to $172.00 and gave the stock an "overweight" rating in a report on Wednesday, December 20th. Evercore ISI upped their price target on Simon Property Group from $142.00 to $150.00 and gave the company an "in-line" rating in a research note on Wednesday, February 28th. StockNews.com raised shares of Simon Property Group from a "hold" rating to a "buy" rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $140.22.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.