DNB Asset Management AS Has $8.38 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

DNB Asset Management AS lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,180 shares of the real estate investment trust’s stock after purchasing an additional 2,438 shares during the quarter. DNB Asset Management AS’s holdings in Simon Property Group were worth $8,376,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. TIAA Trust National Association grew its position in Simon Property Group by 3.7% during the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 69 shares during the last quarter. Inspire Advisors LLC grew its holdings in shares of Simon Property Group by 1.7% during the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock worth $646,000 after purchasing an additional 70 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Simon Property Group by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after buying an additional 77 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Simon Property Group by 1.3% in the first quarter. Bleakley Financial Group LLC now owns 6,033 shares of the real estate investment trust’s stock valued at $944,000 after buying an additional 78 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its position in Simon Property Group by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock worth $794,000 after buying an additional 83 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPG has been the subject of several research reports. Argus raised their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Scotiabank upped their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Stifel Nicolaus lifted their target price on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Evercore ISI lifted their price objective on Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $153.50.

Simon Property Group Trading Up 5.1 %

NYSE SPG traded up $7.49 on Tuesday, reaching $155.54. The company had a trading volume of 1,584,627 shares, compared to its average volume of 1,471,958. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $158.50. The stock has a market cap of $50.70 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 8.78 and a beta of 1.75. The stock’s 50 day moving average is $150.32 and its 200-day moving average is $148.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. Equities analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 5.27%. Simon Property Group’s payout ratio is 101.91%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

About Simon Property Group

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.