California State Teachers Retirement System Sells 3,570 Shares of Simon Property Group, Inc. (NYSE:SPG)

California State Teachers Retirement System reduced its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,759 shares of the real estate investment trust's stock after selling 3,570 shares during the period. California State Teachers Retirement System owned about 0.16% of Simon Property Group worth $89,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank grew its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 1,372 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at about $416,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 1.8 %

Shares of SPG stock traded up $2.90 during trading hours on Friday, hitting $161.77. 1,319,863 shares of the company's stock traded hands, compared to its average volume of 1,515,904. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock's fifty day simple moving average is $161.55 and its two-hundred day simple moving average is $171.72. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The stock has a market cap of $52.78 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.19%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank decreased their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a report on Wednesday, April 9th. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $178.39.

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.