Czech National Bank Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Czech National Bank raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,431 shares of the real estate investment trust’s stock after buying an additional 321 shares during the quarter. Czech National Bank’s holdings in Simon Property Group were worth $10,552,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Diligent Investors LLC grew its holdings in Simon Property Group by 0.5% during 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 buying an additional 68 shares in the last quarter. Augustine Asset Management Inc. grew its holdings in Simon Property Group by 3.8% during 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 buying an additional 68 shares in the last quarter. TIAA Trust National Association grew its holdings 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 valued at $299,000 after buying an additional 69 shares in the last quarter. Inspire Advisors LLC grew its holdings in Simon Property Group by 1.7% during the 1st quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after buying an additional 70 shares in the last quarter. Finally, Mark Asset Management LP boosted its holdings in shares of Simon Property Group by 0.9% in the 2nd quarter. Mark Asset Management LP now owns 8,095 shares of the real estate investment trust’s stock worth $1,229,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.7 %

SPG traded up $1.23 during trading hours on Friday, reaching $169.58. 1,211,204 shares of the company’s stock traded hands, compared to its average volume of 1,778,016. The firm has a 50-day moving average price of $162.34 and a 200 day moving average price of $153.37. Simon Property Group, Inc. has a 52-week low of $102.82 and a 52-week high of $170.87. 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 firm has a market capitalization of $55.29 billion, a PE ratio of 21.60, a PEG ratio of 9.23 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm earned $2.88 EPS. Simon Property Group’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 4.84%. 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 currently 104.46%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent research reports. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Mizuho lifted their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $162.78.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 0.00 % 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. Company insiders own 8.50% of the company’s stock.

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.