Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new position in Simon Property Group in the fourth quarter worth $41,000. Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group in the fourth quarter worth $41,000. Finally, Eastern Bank acquired a new position in shares of Simon Property Group during the third quarter worth $42,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective 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 note on Wednesday, February 5th. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $175.10.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.86 on Monday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $59.99 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company’s 50 day moving average is $176.37 and its 200 day moving average is $172.86.

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

Simon Property Group Dividend Announcement

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

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.