Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,017 shares of the real estate investment trust’s stock after selling 5,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Simon Property Group were worth $12,058,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Eastern Bank acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $42,000. Hennion & Walsh Asset Management Inc. increased its holdings in Simon Property Group by 29.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock worth $1,389,000 after acquiring an additional 1,871 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Simon Property Group by 8.6% during the third quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after acquiring an additional 607 shares during the period. Ballentine Partners LLC lifted its holdings in Simon Property Group by 1.6% during the third quarter. Ballentine Partners LLC now owns 4,702 shares of the real estate investment trust’s stock valued at $795,000 after purchasing an additional 75 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Simon Property Group in the third quarter valued at about $759,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 1.5 %

Shares of NYSE SPG opened at $183.86 on Monday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business’s 50 day moving average is $176.37 and its two-hundred day moving average is $172.86. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The firm has a market cap of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $175.10.

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.