Andra AP fonden Decreases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Andra AP fonden cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 42.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,200 shares of the real estate investment trust’s stock after selling 85,200 shares during the quarter. Andra AP fonden’s holdings in Simon Property Group were worth $19,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares during the period. Hamlin Capital Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $109,403,000. Mizuho Securities USA LLC increased its holdings in shares of Simon Property Group by 2,520.3% in the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after purchasing an additional 633,072 shares during the period. Finally, KBC Group NV increased its holdings in shares of Simon Property Group by 170.3% in 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 purchasing an additional 554,605 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SPG shares. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Mizuho raised their target price on 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 raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

Simon Property Group Stock Performance

NYSE SPG opened at $174.58 on Friday. The company has a market cap of $56.96 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The stock’s 50 day simple moving average is $178.05 and its 200-day simple moving average is $174.32. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year 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 released its earnings results 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 return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.81%. Simon Property Group’s dividend payout ratio (DPR) is presently 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.