178,642 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 178,642 shares of the real estate investment trust’s stock, valued at approximately $30,764,000.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group during the 3rd quarter valued at $834,000. First Hawaiian Bank lifted its position in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares during the period. Versant Capital Management Inc lifted its position in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at $416,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Finally, Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Performance

Shares of SPG stock opened at $162.12 on Friday. The firm has a 50-day moving average of $176.11 and a 200-day moving average of $174.37. The company has a market cap of $52.90 billion, a P/E ratio of 22.33, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.18%. Simon Property Group’s payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

About Simon Property Group

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.