Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 48.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,608 shares of the real estate investment trust’s stock after selling 1,512 shares during the quarter. Krane Funds Advisors LLC’s holdings in Simon Property Group were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SPG. Vanguard Group Inc. lifted its stake in Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Boston Partners raised its position in Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after purchasing an additional 92,648 shares during the last quarter. Centersquare Investment Management LLC raised its position in Simon Property Group by 4.5% in the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after purchasing an additional 78,866 shares during the last quarter. PGGM Investments boosted its stake in Simon Property Group by 1.9% during the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after purchasing an additional 23,186 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Simon Property Group by 6.7% in the second quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock valued at $162,689,000 after buying an additional 67,513 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $174.22 on Tuesday. The stock has a fifty day moving average price of $166.35 and a 200 day moving average price of $154.84. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $56.80 billion, a PE ratio of 22.14, a P/E/G ratio of 9.70 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $104.05 and a 1 year high of $177.08.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.71%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPG. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Scotiabank boosted their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $162.78.

Insider Activity

In other news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.50% 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.