National Pension Service Sells 31,331 Shares of Simon Property Group, Inc. (NYSE:SPG)

National Pension Service lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 897,764 shares of the real estate investment trust’s stock after selling 31,331 shares during the quarter. National Pension Service’s holdings in Simon Property Group were worth $154,604,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SPG. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $41,000. Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC bought a new position in Simon Property Group during the fourth quarter worth $45,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. 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 research report on Wednesday, February 5th. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.99 on Thursday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $60.03 billion, a PE ratio of 25.34, a PEG ratio of 10.10 and a beta of 1.74. The firm has a 50 day moving average of $176.75 and a 200-day moving average of $173.32. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13.

Simon Property Group (NYSE:SPG) last released its 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%. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Company 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.