California State Teachers Retirement System Has $48.77 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

California State Teachers Retirement System trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 1.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 543,420 shares of the real estate investment trust’s stock after selling 5,888 shares during the period. California State Teachers Retirement System’s holdings in Simon Property Group were worth $48,772,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SPG. Community Bank N.A. acquired a new position in Simon Property Group during the third quarter valued at $26,000. Riverview Trust Co raised its position in Simon Property Group by 46.0% during the third quarter. Riverview Trust Co now owns 308 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 97 shares during the period. Trustcore Financial Services LLC acquired a new position in Simon Property Group during the third quarter valued at $31,000. Zions Bancorporation N.A. raised its position in Simon Property Group by 61.8% during the third quarter. Zions Bancorporation N.A. now owns 356 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 136 shares during the period. Finally, Ronald Blue Trust Inc. raised its position in Simon Property Group by 291.1% during the third quarter. Ronald Blue Trust Inc. now owns 352 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 262 shares during the period. 83.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Citigroup boosted their target price on Simon Property Group from $100.00 to $120.00 in a research note on Wednesday, December 14th. StockNews.com began coverage on Simon Property Group in a research note on Thursday. They issued a “hold” rating on the stock. Truist Financial boosted their target price on Simon Property Group from $125.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.58.

Simon Property Group Stock Performance

SPG opened at $109.20 on Friday. The company has a market cap of $35.70 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.52. The stock has a 50-day moving average of $122.65 and a 200-day moving average of $113.18. Simon Property Group, Inc. has a 52-week low of $86.02 and a 52-week high of $138.65. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.97 and a current ratio of 0.97.

Simon Property Group (NYSE:SPG – Get Rating) last released its quarterly earnings results on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($1.08). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.29 billion. Simon Property Group had a return on equity of 60.33% and a net margin of 40.43%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.09 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $7.20 annualized dividend and a yield of 6.59%. Simon Property Group’s payout ratio is 110.43%.

Simon Property Group Company Profile

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Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.