Edgestream Partners L.P. purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 30,239 shares of the real estate investment trust’s stock, valued at approximately $3,552,000.
Several other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its holdings in Simon Property Group by 10.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 267,567 shares of the real estate investment trust’s stock valued at $24,013,000 after purchasing an additional 24,708 shares during the last quarter. Profund Advisors LLC increased its holdings in Simon Property Group by 2.3% in the 4th quarter. Profund Advisors LLC now owns 6,590 shares of the real estate investment trust’s stock valued at $774,000 after purchasing an additional 149 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Simon Property Group by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 130,264 shares of the real estate investment trust’s stock valued at $15,303,000 after purchasing an additional 12,809 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Simon Property Group by 9.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 237,858 shares of the real estate investment trust’s stock valued at $27,720,000 after purchasing an additional 20,821 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Simon Property Group by 1.2% in the 3rd quarter. Treasurer of the State of North Carolina now owns 144,294 shares of the real estate investment trust’s stock valued at $12,950,000 after purchasing an additional 1,780 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Mizuho dropped their target price on shares of Simon Property Group from $116.00 to $106.00 in a report on Friday, May 26th. Morgan Stanley boosted their price target 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. Stifel Nicolaus dropped their price target on shares of Simon Property Group from $135.00 to $129.50 in a research note on Wednesday, May 3rd. The Goldman Sachs Group initiated coverage on shares of Simon Property Group in a research note on Tuesday, March 21st. They issued a “buy” rating and a $150.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Simon Property Group from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 21st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.63.
Insider Activity at Simon Property Group
In other news, Director Karen N. Horn acquired 551 shares of Simon Property Group stock in a transaction that occurred on Friday, March 31st. The shares were acquired at an average price of $109.33 per share, with a total value of $60,240.83. Following the completion of the purchase, the director now owns 34,079 shares of the company’s stock, valued at approximately $3,725,857.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.
Simon Property Group Stock Performance
Shares of NYSE:SPG traded up $3.39 on Friday, reaching $106.79. The company’s stock had a trading volume of 431,264 shares, compared to its average volume of 1,529,090. The stock’s 50-day moving average is $107.72 and its two-hundred day moving average is $115.58. Simon Property Group, Inc. has a 52-week low of $86.02 and a 52-week high of $133.08. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $34.92 billion, a P/E ratio of 15.67, a PEG ratio of 2.56 and a beta of 1.51.
Simon Property Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be given a $1.85 dividend. The ex-dividend date is Thursday, June 8th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 annualized dividend and a dividend yield of 6.93%. Simon Property Group’s dividend payout ratio is currently 109.09%.
Simon Property Group Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.
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