Pensionfund Sabic Decreases Position in Simon Property Group, Inc. (NYSE:SPG)

Pensionfund Sabic lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 16.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,606 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. Simon Property Group comprises 1.3% of Pensionfund Sabic’s portfolio, making the stock its 12th largest holding. Pensionfund Sabic’s holdings in Simon Property Group were worth $4,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Diligent Investors LLC raised its stake in shares of Simon Property Group by 0.5% in the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after purchasing an additional 68 shares during the last quarter. Augustine Asset Management Inc. boosted its stake in Simon Property Group by 3.8% during the second 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 during the last quarter. TIAA Trust National Association boosted its stake in Simon Property Group by 3.7% during the first 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 during the last quarter. Inspire Advisors LLC lifted its stake in shares of Simon Property Group by 1.7% in the 1st quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after purchasing an additional 70 shares during the last quarter. Finally, Mark Asset Management LP lifted its stake 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 valued at $1,229,000 after purchasing an additional 72 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research analyst reports. Mizuho lifted 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 reissued a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Scotiabank boosted their price objective on 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, Piper Sandler reissued 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. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Up 1.2 %

SPG stock opened at $169.25 on Thursday. The stock has a market capitalization of $55.18 billion, a P/E ratio of 21.56, a PEG ratio of 9.29 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. Simon Property Group, Inc. has a one year low of $104.05 and a one year high of $170.87. The company has a 50 day moving average price of $163.20 and a two-hundred day moving average price of $153.65.

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 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 business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company posted $2.88 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current 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 given a $2.05 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.84%. Simon Property Group’s dividend payout ratio is 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.