DekaBank Deutsche Girozentrale Grows Holdings in Simon Property Group, Inc. (NYSE:SPG)

DekaBank Deutsche Girozentrale boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,389 shares of the real estate investment trust’s stock after purchasing an additional 2,267 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.08% of Simon Property Group worth $42,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Inspire Advisors LLC raised its position in Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares during the last quarter. Diligent Investors LLC raised its position in Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares during the last quarter. Augustine Asset Management Inc. raised its position in Simon Property Group by 3.8% in the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 68 shares during the last quarter. Bleakley Financial Group LLC raised its position in Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after purchasing an additional 68 shares during the last quarter. Finally, TIAA Trust National Association raised its position in Simon Property Group by 3.7% during the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SPG. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

Shares of SPG opened at $172.52 on Tuesday. The company has a 50-day simple moving average of $167.91 and a 200-day simple moving average of $155.70. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a market capitalization of $56.23 billion, a PE ratio of 21.98, a P/E/G ratio of 9.35 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $104.24 and a 52-week high of $177.08.

Simon Property Group (NYSE:SPG) last announced 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). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.75%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 104.46%.

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.