Handelsbanken Fonder AB Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Handelsbanken Fonder AB boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 29.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 194,846 shares of the real estate investment trust’s stock after purchasing an additional 44,141 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of Simon Property Group worth $33,554,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Simon Property Group during the third quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth $41,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $41,000. Eastern Bank acquired a new stake in shares of Simon Property Group in the 3rd quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Simon Property Group during the 4th quarter worth $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Up 0.4 %

NYSE:SPG opened at $186.74 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company’s fifty day moving average price is $176.29 and its 200-day moving average price is $172.35. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The firm has a market capitalization of $60.93 billion, a P/E ratio of 25.72, a PEG ratio of 10.06 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $175.10.

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.