Nordea Investment Management AB Reduces Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Nordea Investment Management AB reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 81.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,170 shares of the real estate investment trust’s stock after selling 120,413 shares during the period. Nordea Investment Management AB’s holdings in Simon Property Group were worth $4,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Simon Property Group by 617.5% during the 3rd 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 buying an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after buying an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after buying an additional 25,519 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Simon Property Group by 373.6% during the 3rd 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 buying an additional 993,694 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Simon Property Group by 6.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock valued at $193,023,000 after buying an additional 73,742 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company’s stock, 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 can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $172.10.

Simon Property Group Stock Performance

NYSE:SPG opened at $171.01 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The stock’s 50 day simple moving average is $177.38 and its two-hundred day simple moving average is $166.85. The company has a market cap of $55.80 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 111.85%.

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.