Trade Report: Today, Teacher Retirement System of Texas Reduced the position of Simon Property Group Inc. (SPG)

Today, Teacher Retirement System of Texas Reduced the position of Simon Property Group Inc. (SPG)

Teacher Retirement System of Texas lowered its stake in shares of Simon Property Group Inc. (NYSE:SPG) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,137 shares of the real estate investment trust’s stock after selling 11,333 shares during the period. Teacher Retirement System of Texas owned 0.08% of Simon Property Group worth $49,918,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SPG. Capstone Asset Management Co. increased its position in Simon Property Group by 0.8% in the second quarter. Capstone Asset Management Co. now owns 27,851 shares of the real estate investment trust’s stock valued at $6,041,000 after buying an additional 216 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in Simon Property Group by 14.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 592,857 shares of the real estate investment trust’s stock valued at $128,591,000 after buying an additional 76,812 shares during the last quarter. First Financial Corp IN increased its position in Simon Property Group by 32.9% in the second quarter. First Financial Corp IN now owns 6,477 shares of the real estate investment trust’s stock valued at $1,404,000 after buying an additional 1,603 shares during the last quarter. Creative Planning increased its position in Simon Property Group by 110.5% in the second quarter. Creative Planning now owns 10,459 shares of the real estate investment trust’s stock valued at $2,269,000 after buying an additional 5,490 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in Simon Property Group by 0.7% in the second quarter. Gulf International Bank UK Ltd now owns 93,627 shares of the real estate investment trust’s stock valued at $20,307,000 after buying an additional 640 shares during the last quarter. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Inc. (NYSE:SPG) traded up 0.30% on Friday, hitting $181.30. 487,301 shares of the stock traded hands. Simon Property Group Inc. has a 12-month low of $174.91 and a 12-month high of $229.10. The stock has a market cap of $56.97 billion, a price-to-earnings ratio of 30.88 and a beta of 0.65. The firm’s 50-day moving average price is $188.59 and its 200-day moving average price is $205.48.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $2.70 EPS for the quarter, topping the consensus estimate of $2.68 by $0.02. Simon Property Group had a net margin of 35.37% and a return on equity of 36.22%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Simon Property Group Inc. will post $10.80 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, November 14th. Simon Property Group’s payout ratio is 112.25%.

A number of brokerages have recently commented on SPG. Deutsche Bank AG increased their target price on shares of Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Argus set a $245.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research report on Thursday, August 11th. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Vetr upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 target price for the company in a research report on Tuesday, August 2nd. Finally, RBC Capital Markets cut shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $220.00 to $230.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $236.24.

In related news, CFO Andrew Juster sold 7,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $215.68, for a total value of $1,509,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Steven K. Broadwater sold 945 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the transaction, the senior vice president now directly owns 2,965 shares of the company’s stock, valued at approximately $638,690.65. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

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