Achmea Investment Management B.V. Acquires 2,509 Shares of Simon Property Group, Inc. (NYSE:SPG)

Achmea Investment Management B.V. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,236 shares of the real estate investment trust’s stock after purchasing an additional 2,509 shares during the quarter. Achmea Investment Management B.V.’s holdings in Simon Property Group were worth $12,028,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares during the period. Norges Bank bought a new position in shares of Simon Property Group during the 4th quarter worth $2,561,181,000. Boston Partners increased its stake in shares of Simon Property Group by 4.2% during the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares during the period. Centersquare Investment Management LLC raised its holdings in shares of Simon Property Group by 4.5% in the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares in the last quarter. Finally, PGGM Investments lifted its stake in Simon Property Group by 1.9% in the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after acquiring an additional 23,186 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 0.2 %

Shares of NYSE:SPG opened at $163.74 on Friday. The business’s 50-day moving average is $157.12 and its 200 day moving average is $151.49. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $169.18. The firm has a market capitalization of $53.39 billion, a P/E ratio of 20.86, a P/E/G ratio of 8.95 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued 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). The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. Simon Property Group’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 EPS. On average, research analysts predict 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. Shareholders of record on Monday, September 9th will be issued a $2.05 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.01%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SPG shares. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. 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 research note on Tuesday, September 3rd. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI boosted their price target on Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $161.44.

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.