Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 846,000 shares of the real estate investment trust’s stock after purchasing an additional 3,210 shares during the period. Bessemer Group Inc.’s holdings in Simon Property Group were worth $97,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Simon Property Group by 10.4% during the first quarter. Geode Capital Management LLC now owns 8,144,366 shares of the real estate investment trust’s stock valued at $910,337,000 after acquiring an additional 765,146 shares during the last quarter. Cowa LLC purchased a new stake in shares of Simon Property Group during the first quarter worth approximately $107,000. Norges Bank acquired a new position in Simon Property Group in the 4th quarter valued at $807,887,000. Morgan Stanley lifted its holdings in Simon Property Group by 6.9% in the 4th quarter. Morgan Stanley now owns 6,500,305 shares of the real estate investment trust’s stock valued at $763,656,000 after purchasing an additional 421,554 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Simon Property Group by 21.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,431,061 shares of the real estate investment trust’s stock worth $627,179,000 after purchasing an additional 966,094 shares during the last quarter. 84.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, CFO Brian J. Mcdade bought 359 shares of Simon Property Group stock in a transaction on Friday, September 29th. The shares were bought at an average price of $109.19 per share, for a total transaction of $39,199.21. Following the completion of the transaction, the chief financial officer now directly owns 25,741 shares of the company’s stock, valued at $2,810,659.79. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Reuben S. Leibowitz acquired 580 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were purchased at an average cost of $110.04 per share, for a total transaction of $63,823.20. Following the acquisition, the director now owns 49,727 shares in the company, valued at approximately $5,471,959.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian J. Mcdade bought 359 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was bought at an average price of $109.19 per share, with a total value of $39,199.21. Following the acquisition, the chief financial officer now directly owns 25,741 shares in the company, valued at approximately $2,810,659.79. The disclosure for this purchase can be found here. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Simon Property Group from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th. Truist Financial lowered their target price on Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a report on Tuesday, August 29th. Finally, Stifel Nicolaus cut their price target on Simon Property Group from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.90.

Simon Property Group Stock Performance

Simon Property Group stock opened at $122.75 on Tuesday. The firm has a 50 day simple moving average of $111.17 and a 200-day simple moving average of $112.84. The stock has a market cap of $40.05 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 6.91 and a beta of 1.58. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.94 and a quick ratio of 0.94. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $133.08.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $1.90 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $7.60 annualized dividend and a yield of 6.19%. Simon Property Group’s payout ratio is 112.59%.

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.