Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 38.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,299 shares of the real estate investment trust’s stock after selling 6,979 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Simon Property Group were worth $1,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group in the 4th quarter valued at $28,000. WR Wealth Planners LLC lifted its holdings in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group during the fourth quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPG. Stifel Nicolaus raised 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, 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 research report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and an average price target of $181.39.

Simon Property Group Stock Performance

NYSE SPG opened at $149.35 on Wednesday. The stock has a market capitalization of $48.73 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 10.10 and a beta of 1.45. The business’s 50 day moving average is $168.88 and its two-hundred day moving average is $173.01. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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 expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.62%. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group 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.