BI Asset Management Fondsmaeglerselskab A S Has $3.84 Million Position in Simon Property Group, Inc. (NYSE:SPG)

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

A number of other institutional investors have also recently bought and sold shares of the company. United Community Bank acquired a new position in Simon Property Group during the first quarter valued at approximately $47,000. Proficio Capital Partners LLC grew its holdings in Simon Property Group by 8.6% during the first quarter. Proficio Capital Partners LLC now owns 3,144 shares of the real estate investment trust’s stock valued at $492,000 after purchasing an additional 249 shares during the period. Central Pacific Bank Trust Division acquired a new position in Simon Property Group during the first quarter valued at approximately $137,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Simon Property Group by 5.5% during the first 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 purchasing an additional 1,700 shares during the period. Finally, Whittier Trust Co. grew its holdings in Simon Property Group by 0.7% during the first quarter. Whittier Trust Co. now owns 69,036 shares of the real estate investment trust’s stock valued at $10,803,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Argus boosted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Truist Financial lifted their price target 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. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Scotiabank lifted 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 note on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Stock Down 0.3 %

Shares of SPG stock traded down $0.49 during trading on Wednesday, reaching $147.08. The company’s stock had a trading volume of 104,110 shares, compared to its average volume of 1,476,971. The business has a fifty day moving average price of $148.27 and a 200-day moving average price of $146.93. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The company has a market cap of $47.94 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 8.73 and a beta of 1.75. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $157.82.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.74 EPS. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is currently 101.91%.

Simon Property Group 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.