Simon Property Group, Inc. (NYSE:SPG) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,595 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Simon Property Group were worth $2,513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the 3rd quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group during the 4th quarter worth approximately $41,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group during the 4th quarter worth approximately $41,000. Eastern Bank acquired a new position in Simon Property Group during the 3rd quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.6 %

SPG stock opened at $185.12 on Friday. The company has a fifty day moving average price of $175.72 and a 200 day moving average price of $171.45. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.14. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. 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) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.54%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $175.10.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

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.