Nisa Investment Advisors LLC Sells 18,567 Shares of Simon Property Group, Inc. (NYSE:SPG)

Nisa Investment Advisors LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,158 shares of the real estate investment trust’s stock after selling 18,567 shares during the quarter. Nisa Investment Advisors LLC owned 0.07% of Simon Property Group worth $36,704,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SPG. Vanderbilt University increased its stake in Simon Property Group by 20.7% during the 3rd quarter. Vanderbilt University now owns 34,440 shares of the real estate investment trust’s stock valued at $5,821,000 after purchasing an additional 5,898 shares in the last quarter. Sun Life Financial Inc. acquired a new position in shares of Simon Property Group during the third quarter valued at about $9,997,000. Custom Index Systems LLC increased its position in shares of Simon Property Group by 4.5% during the third quarter. Custom Index Systems LLC now owns 5,665 shares of the real estate investment trust’s stock worth $957,000 after acquiring an additional 244 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Simon Property Group by 0.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 253,389 shares of the real estate investment trust’s stock worth $42,185,000 after acquiring an additional 2,267 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in Simon Property Group by 24.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 428 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 83 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Scotiabank increased their price target 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. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho upped their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $172.52 on Tuesday. The company has a market capitalization of $56.23 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 9.35 and a beta of 1.74. The company’s 50-day moving average is $167.91 and its 200 day moving average is $155.70. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $177.08.

Simon Property Group (NYSE:SPG) last released its 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). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.75%. Simon Property Group’s dividend payout ratio is presently 104.46%.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

About Simon Property Group

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.