Pensionfund Sabic Sells 500 Shares of Simon Property Group, Inc. (NYSE:SPG)

Pensionfund Sabic lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,106 shares of the real estate investment trust’s stock after selling 500 shares during the period. Simon Property Group accounts for 1.1% of Pensionfund Sabic’s investment portfolio, making the stock its 20th biggest position. Pensionfund Sabic’s holdings in Simon Property Group were worth $4,151,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SPG. TD Asset Management Inc raised its stake in Simon Property Group by 1.4% during the second quarter. TD Asset Management Inc now owns 124,335 shares of the real estate investment trust’s stock valued at $18,874,000 after buying an additional 1,692 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Simon Property Group by 1.0% in the 2nd quarter. New York Life Investment Management LLC now owns 49,549 shares of the real estate investment trust’s stock worth $7,522,000 after purchasing an additional 484 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Simon Property Group by 34.3% in the 2nd quarter. Private Advisor Group LLC now owns 31,862 shares of the real estate investment trust’s stock worth $4,837,000 after purchasing an additional 8,132 shares during the last quarter. Candriam S.C.A. boosted its stake in Simon Property Group by 238.7% in the 2nd quarter. Candriam S.C.A. now owns 70,673 shares of the real estate investment trust’s stock worth $10,728,000 after purchasing an additional 49,806 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Simon Property Group by 5,778.7% in the second quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock worth $40,372,000 after buying an additional 261,430 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock traded down $0.64 during mid-day trading on Monday, hitting $175.43. The stock had a trading volume of 86,234 shares, compared to its average volume of 702,973. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm’s 50 day moving average is $177.07 and its 200 day moving average is $166.20. The firm has a market capitalization of $57.24 billion, a P/E ratio of 23.36, a P/E/G ratio of 10.50 and a beta of 1.75. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business earned $3.20 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.79%. Simon Property Group’s dividend payout ratio is presently 111.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $172.10.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by company insiders.

Simon Property Group 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.