National Pension Service Has $157.04 Million Position in Simon Property Group, Inc. (NYSE:SPG)

National Pension Service boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 929,095 shares of the real estate investment trust’s stock after buying an additional 105,638 shares during the period. National Pension Service’s holdings in Simon Property Group were worth $157,036,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Intact Investment Management Inc. acquired a new position in Simon Property Group in the third quarter valued at approximately $74,000. BSW Wealth Partners acquired a new stake in Simon Property Group in the third quarter worth $248,000. Van ECK Associates Corp raised its holdings in Simon Property Group by 11.7% in the third quarter. Van ECK Associates Corp now owns 153,314 shares of the real estate investment trust’s stock worth $26,649,000 after purchasing an additional 16,032 shares during the period. Optas LLC raised its holdings in Simon Property Group by 31.9% in the third quarter. Optas LLC now owns 1,765 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 427 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Simon Property Group by 46.5% in the third quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 883 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPG. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho raised their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Up 2.7 %

Simon Property Group stock opened at $172.16 on Tuesday. The company has a market cap of $56.13 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 9.54 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $113.40 and a 1-year high of $177.08. The company has a fifty day simple moving average of $168.65 and a 200 day simple moving average of $156.72. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned $2.88 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Research analysts anticipate that Simon Property Group, Inc. will post 12.83 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Insider Activity

In other news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.60% 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.