4,900 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 4,900 shares of the real estate investment trust’s stock, valued at approximately $844,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SPG. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Simon Property Group by 126.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust’s stock worth $1,568,000 after purchasing an additional 5,177 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Simon Property Group by 45.9% during the 3rd quarter. Cerity Partners LLC now owns 47,364 shares of the real estate investment trust’s stock worth $8,006,000 after buying an additional 14,893 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Simon Property Group by 456.9% in the 3rd quarter. Algert Global LLC now owns 15,621 shares of the real estate investment trust’s stock valued at $2,640,000 after buying an additional 12,816 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Simon Property Group by 17.2% in the 3rd quarter. Penserra Capital Management LLC now owns 9,646 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,413 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Simon Property Group by 12.2% in the 3rd quarter. Larson Financial Group LLC now owns 3,503 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 381 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $165.91 on Wednesday. The business has a 50 day simple moving average of $175.83 and a 200-day simple moving average of $174.46. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month 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. The stock has a market capitalization of $54.13 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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 analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SPG shares. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has an average rating of “Moderate Buy” and a consensus target price of $180.33.

About Simon Property Group

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.