Simon Property Group, Inc. (NYSE:SPG) Shares Sold by National Pension Service

National Pension Service reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 897,764 shares of the real estate investment trust’s stock after selling 31,331 shares during the period. National Pension Service owned about 0.28% of Simon Property Group worth $154,604,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $41,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC purchased a new stake in Simon Property Group during the 4th quarter worth approximately $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Stock Performance

Shares of SPG stock opened at $183.99 on Thursday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market cap of $60.03 billion, a P/E ratio of 25.34, a PEG ratio of 10.10 and a beta of 1.74. The stock’s 50-day moving average is $176.75 and its two-hundred day moving average is $173.32. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group 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.