Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 333.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,531 shares of the real estate investment trust’s stock after purchasing an additional 18,872 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Simon Property Group were worth $3,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Community Bank purchased a new stake in shares of Simon Property Group in the 1st quarter valued at approximately $47,000. Proficio Capital Partners LLC lifted its position in shares of Simon Property Group by 8.6% in the 1st quarter. Proficio Capital Partners LLC now owns 3,144 shares of the real estate investment trust’s stock valued at $492,000 after acquiring an additional 249 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Simon Property Group in the 1st quarter valued at approximately $137,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Simon Property Group by 5.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 32,339 shares of the real estate investment trust’s stock valued at $5,061,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Simon Property Group by 0.7% in the 1st quarter. Whittier Trust Co. now owns 69,036 shares of the real estate investment trust’s stock valued at $10,803,000 after acquiring an additional 484 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the purchase, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 0.3 %

Shares of SPG traded down $0.49 during mid-day trading on Wednesday, hitting $147.08. 104,110 shares of the company’s stock were exchanged, compared to its average volume of 1,476,971. The firm has a fifty day moving average of $148.27 and a two-hundred day moving average of $146.93. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $157.82. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 8.73 and a beta of 1.75. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $2.74 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $2.00 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. This represents a $8.00 annualized dividend and a dividend yield of 5.44%. Simon Property Group’s dividend payout ratio is 101.91%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SPG shares. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Scotiabank upped their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Truist Financial upped their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.89.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.