Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in Simon Property Group, Inc. (NYSE:SPG) by 433.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,954 shares of the real estate investment trust’s stock after purchasing an additional 2,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Simon Property Group were worth $499,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC purchased a new position in Simon Property Group in the first quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the 2nd quarter valued at about $27,000. Finally, Pathway Financial Advisers LLC acquired a new position in Simon Property Group in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $170.78 on Monday. Simon Property Group, Inc. has a 1 year low of $104.05 and a 1 year high of $171.51. The stock has a market capitalization of $55.68 billion, a PE ratio of 21.70, a PEG ratio of 9.20 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a 50-day simple moving average of $163.88 and a 200-day simple moving average of $153.91.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 4.80%. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is 104.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Mizuho boosted their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Stifel Nicolaus restated a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Truist Financial raised their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

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.