Nisa Investment Advisors LLC Has $35.78 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

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

A number of other hedge funds and other institutional investors have also modified their holdings of SPG. Diligent Investors LLC grew its holdings in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares during the period. TIAA Trust National Association grew its stake in shares of Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 69 shares during the period. Inspire Advisors LLC increased its holdings in Simon Property Group by 1.7% in the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after purchasing an additional 70 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Simon Property Group by 1.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 77 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Simon Property Group by 1.3% during the first quarter. Bleakley Financial Group LLC now owns 6,033 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 78 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPG. Argus increased their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday. Scotiabank boosted their price target 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 report on Friday. Finally, Evercore ISI lifted their target price on Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $153.95.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 1.8 %

Shares of SPG traded up $2.76 during trading hours on Monday, hitting $159.46. The stock had a trading volume of 510,452 shares, compared to its average volume of 1,464,786. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $161.30. The firm has a market capitalization of $51.97 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 8.59 and a beta of 1.75. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50 day simple moving average of $151.23 and a 200-day simple moving average of $149.05.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

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

About Simon Property Group

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.