Swiss National Bank Boosts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Swiss National Bank grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the third quarter, Holdings Channel reports. The firm owned 967,327 shares of the real estate investment trust’s stock after acquiring an additional 2,400 shares during the period. Swiss National Bank’s holdings in Simon Property Group were worth $163,498,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SPG. Aptus Capital Advisors LLC raised its holdings in shares of Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of Simon Property Group by 1.6% during the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after acquiring an additional 65 shares in the last quarter. Diligent Investors LLC increased its holdings in shares of Simon Property Group by 0.5% during the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after acquiring an additional 68 shares in the last quarter. Augustine Asset Management Inc. boosted its position in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 68 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 68 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 1.1 %

Shares of SPG opened at $180.27 on Monday. Simon Property Group, Inc. has a 52-week low of $119.72 and a 52-week high of $182.84. The company has a market capitalization of $58.78 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 10.52 and a beta of 1.74. The stock has a fifty day simple moving average of $170.77 and a two-hundred day simple moving average of $158.97. The company has a quick ratio of 2.04, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $3.20 earnings per share. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.66%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPG. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Truist Financial upped 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. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Scotiabank upped their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.