OMERS ADMINISTRATION Corp Trims Stock Position in Simon Property Group, Inc. (NYSE:SPG)

OMERS ADMINISTRATION Corp lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,202 shares of the real estate investment trust's stock after selling 6,313 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Simon Property Group were worth $3,823,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SPG. Asset Management One Co. Ltd. increased its stake in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $416,000. SG Americas Securities LLC lifted its holdings in shares of Simon Property Group by 48.0% during the fourth quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock worth $1,231,000 after buying an additional 2,320 shares in the last quarter. Vert Asset Management LLC raised its stake in Simon Property Group by 3.1% in the fourth quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust's stock valued at $21,595,000 after purchasing an additional 3,783 shares in the last quarter. Finally, TTP Investments Inc. raised its stake in Simon Property Group by 67.4% in the fourth quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust's stock valued at $9,885,000 after purchasing an additional 23,109 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $1.08 during trading on Monday, hitting $164.04. 436,814 shares of the company's stock traded hands, compared to its average volume of 1,525,644. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company has a market cap of $53.55 billion, a PE ratio of 22.62, a PEG ratio of 10.10 and a beta of 1.43. The firm's fifty day moving average price is $158.09 and its 200 day moving average price is $170.89. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.56 earnings per share. Analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.12%. Simon Property Group's dividend payout ratio (DPR) is currently 133.76%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPG. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Scotiabank cut their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group presently has an average rating of "Moderate Buy" and a consensus target price of $179.67.

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.