Teacher Retirement System of Texas Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

Teacher Retirement System of Texas lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 239,305 shares of the real estate investment trust’s stock after selling 15,292 shares during the quarter. Teacher Retirement System of Texas’ holdings in Simon Property Group were worth $41,211,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Royal London Asset Management Ltd. boosted its stake in shares of Simon Property Group by 0.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 182,909 shares of the real estate investment trust’s stock valued at $31,499,000 after purchasing an additional 539 shares during the period. Vinva Investment Management Ltd boosted its stake in shares of Simon Property Group by 3.8% during the fourth quarter. Vinva Investment Management Ltd now owns 26,241 shares of the real estate investment trust’s stock valued at $4,484,000 after purchasing an additional 955 shares during the period. Xponance Inc. boosted its stake in shares of Simon Property Group by 3.6% during the fourth quarter. Xponance Inc. now owns 72,591 shares of the real estate investment trust’s stock valued at $12,501,000 after purchasing an additional 2,515 shares during the period. Boston Partners boosted its stake in shares of Simon Property Group by 7.0% during the fourth quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust’s stock valued at $431,304,000 after purchasing an additional 162,764 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $4,149,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $164.36 on Friday. The stock has a fifty day simple moving average of $176.29 and a two-hundred day simple moving average of $174.33. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $53.63 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. Simon Property Group’s payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPG. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Simon Property Group has an average rating of “Hold” and an average target price of $180.33.

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.