Czech National Bank Has $9.43 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Czech National Bank raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,110 shares of the real estate investment trust’s stock after acquiring an additional 4,766 shares during the quarter. Czech National Bank’s holdings in Simon Property Group were worth $9,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Prime Capital Investment Advisors LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $430,000. Stratos Wealth Partners LTD. increased its position in shares of Simon Property Group by 8.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,722 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 208 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Simon Property Group by 9.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock worth $11,670,000 after acquiring an additional 7,250 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Simon Property Group by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 5,955 shares of the real estate investment trust’s stock worth $849,000 after acquiring an additional 340 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Simon Property Group by 66.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,034 shares of the real estate investment trust’s stock valued at $861,000 after purchasing an additional 2,406 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of several recent analyst reports. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday. Argus upped their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Evercore ISI increased their price target on shares of Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Scotiabank lifted their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Finally, Stifel Nicolaus upped their target price on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $153.50.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG traded down $3.88 during trading hours on Monday, hitting $154.79. The company had a trading volume of 503,699 shares, compared to its average volume of 1,462,817. The business has a fifty day moving average of $150.89 and a 200-day moving average of $148.51. The company has a quick ratio of 2.19, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a market cap of $50.45 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 9.03 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $159.73.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. The ex-dividend date of this dividend is Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 5.30%. Simon Property Group’s dividend payout ratio is 104.46%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.