Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 235,725 shares of the real estate investment trust’s stock after selling 1,282 shares during the quarter. Nisa Investment Advisors LLC owned 0.07% of Simon Property Group worth $35,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Lighthouse Investment Partners LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $5,706,000. Corient Private Wealth LLC raised its stake in shares of Simon Property Group by 97.8% in the fourth quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock valued at $10,708,000 after acquiring an additional 37,108 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Simon Property Group by 3.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 510,682 shares of the real estate investment trust’s stock valued at $71,541,000 after purchasing an additional 15,251 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Simon Property Group by 11.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after purchasing an additional 3,626 shares in the last quarter. Finally, Napa Wealth Management purchased a new stake in Simon Property Group during the 4th quarter worth about $3,151,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG traded up $2.76 during mid-day trading on Monday, reaching $159.46. 510,452 shares of the company’s stock were exchanged, compared to its average volume of 1,464,786. The business’s fifty day simple moving average is $151.23 and its 200-day simple moving average is $149.05. The stock has a market capitalization of $51.97 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 8.59 and a beta of 1.75. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $161.30. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 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 business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm posted $2.88 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 5.14%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 101.91%.

Analyst Ratings Changes

SPG has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Scotiabank raised their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Evercore ISI increased their target price on Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. Finally, Argus raised their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $153.95.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

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.