National Pension Service Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

National Pension Service raised its position in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 608,210 shares of the real estate investment trust’s stock after acquiring an additional 29,358 shares during the quarter. National Pension Service owned approximately 0.19% of Simon Property Group worth $54,210,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SPG. Community Bank N.A. purchased a new position in shares of Simon Property Group in the third quarter valued at about $26,000. Riverview Trust Co boosted its stake in shares of Simon Property Group by 46.0% during the 3rd quarter. Riverview Trust Co now owns 308 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Simon Property Group during the 3rd quarter valued at about $31,000. Zions Bancorporation N.A. boosted its stake in shares of Simon Property Group by 61.8% during the 3rd quarter. Zions Bancorporation N.A. now owns 356 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 136 shares in the last quarter. Finally, Ronald Blue Trust Inc. boosted its stake in shares of Simon Property Group by 291.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 352 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Simon Property Group Trading Down 2.2 %

Shares of NYSE SPG opened at $109.69 on Thursday. The firm’s 50 day moving average price is $122.81 and its 200-day moving average price is $113.20. The company has a market cap of $35.86 billion, a PE ratio of 16.82, a P/E/G ratio of 2.62 and a beta of 1.52. Simon Property Group, Inc. has a 52-week low of $86.02 and a 52-week high of $138.65. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.97 and a current ratio of 0.97.

Simon Property Group (NYSE:SPG – Get Rating) last issued its earnings results on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($1.08). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.29 billion. Simon Property Group had a return on equity of 60.33% and a net margin of 40.43%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.09 EPS. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $7.20 annualized dividend and a dividend yield of 6.56%. Simon Property Group’s payout ratio is 110.43%.

Wall Street Analyst Weigh In

SPG has been the topic of a number of research reports. Truist Financial lifted their target price on shares of Simon Property Group from $125.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Citigroup lifted their target price on shares of Simon Property Group from $100.00 to $120.00 in a research note on Wednesday, December 14th. Morgan Stanley boosted their price objective on shares of Simon Property Group from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Finally, StockNews.com started coverage on shares of Simon Property Group in a research note on Thursday. They set a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $130.58.

Simon Property Group Company Profile

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Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.