Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 424.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,129 shares of the real estate investment trust’s stock after buying an additional 55,960 shares during the period. APG Asset Management N.V.’s holdings in Simon Property Group were worth $9,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new stake in Simon Property Group in the fourth quarter valued at approximately $5,706,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Simon Property Group by 11.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after buying an additional 3,626 shares during the last quarter. Napa Wealth Management purchased a new position in shares of Simon Property Group in the 4th quarter worth $3,151,000. Aspiriant LLC acquired a new position in Simon Property Group in the first quarter valued at $1,139,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Simon Property Group by 333.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,531 shares of the real estate investment trust’s stock valued at $3,839,000 after acquiring an additional 18,872 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $167.71 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company’s fifty day moving average price is $160.77 and its two-hundred day moving average price is $152.76. The firm has a market capitalization of $54.68 billion, a P/E ratio of 21.36, a P/E/G ratio of 9.32 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $170.87.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $2.88 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is 104.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Argus lifted their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Stifel Nicolaus reaffirmed 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. Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Mizuho raised their price objective 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

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.