Simon Property Group, Inc. (NYSE:SPG) Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 545,291 shares of the real estate investment trust’s stock after selling 37,005 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Simon Property Group worth $93,905,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Simon Property Group during the fourth quarter worth $2,059,505,000. Hamlin Capital Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $109,403,000. KBC Group NV lifted its stake in Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after buying an additional 539,893 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in shares of Simon Property Group by 17,222.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust’s stock worth $82,063,000 after acquiring an additional 473,779 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft initiated coverage on 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 Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Up 1.2 %

SPG opened at $166.27 on Tuesday. The company has a market capitalization of $54.25 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The business has a 50-day moving average of $175.26 and a 200-day moving average of $174.54. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. 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 issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

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.