Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Forsta AP Fonden

Forsta AP Fonden raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 31.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,200 shares of the real estate investment trust’s stock after acquiring an additional 28,500 shares during the quarter. Forsta AP Fonden’s holdings in Simon Property Group were worth $19,978,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SPG. Kathmere Capital Management LLC acquired a new position in shares of Simon Property Group in the first quarter worth $220,000. Hennion & Walsh Asset Management Inc. lifted its position in Simon Property Group by 54.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,455 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 1,576 shares during the period. Vicus Capital lifted its position in Simon Property Group by 11.8% during the first quarter. Vicus Capital now owns 2,061 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 217 shares during the period. Breakwater Capital Group purchased a new position in Simon Property Group during the first quarter worth about $215,000. Finally, Diversified Trust Co lifted its position in Simon Property Group by 130.9% during the first quarter. Diversified Trust Co now owns 10,852 shares of the real estate investment trust’s stock worth $1,698,000 after buying an additional 6,153 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Price Performance

SPG stock opened at $170.52 on Friday. 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 1 year low of $104.05 and a 1 year high of $177.08. The firm has a market cap of $55.58 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. The stock has a 50-day simple moving average of $167.66 and a 200-day simple moving average of $155.45.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) 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 analyst estimates of $1.30 billion. During the same quarter last year, the business posted $2.88 EPS. Simon Property Group’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Scotiabank raised their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.78.

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.