BI Asset Management Fondsmaeglerselskab A S Sells 3,821 Shares of Simon Property Group, Inc. (NYSE:SPG)

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 40.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,659 shares of the real estate investment trust’s stock after selling 3,821 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Simon Property Group were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cascade Investment Group Inc. raised its position in shares of Simon Property Group by 0.5% during the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock valued at $2,097,000 after buying an additional 80 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Simon Property Group by 16.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 80 shares in the last quarter. Schechter Investment Advisors LLC increased its position in shares of Simon Property Group by 2.4% during the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 81 shares during the period. Sound View Wealth Advisors Group LLC raised its stake in shares of Simon Property Group by 1.5% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 83 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in Simon Property Group by 1.9% in the third quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust’s stock worth $495,000 after purchasing an additional 85 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.2 %

Shares of SPG opened at $146.17 on Thursday. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market cap of $47.64 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 8.78 and a beta of 1.68. The stock has a fifty day moving average price of $147.55 and a two-hundred day moving average price of $141.79. Simon Property Group, Inc. has a 52-week low of $100.17 and a 52-week high of $157.82.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $2.74 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that Simon Property Group, Inc. will post 12.87 EPS for the current fiscal year.

Simon Property Group declared that its board has initiated a stock repurchase program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $2.00 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, June 7th. Simon Property Group’s dividend payout ratio is 99.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SPG shares. Scotiabank increased 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 research note on Thursday, May 16th. Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley lifted their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Evercore ISI increased their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.40.

Simon Property Group Company 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.