Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its position in Simon Property Group, Inc. (NYSE:SPG) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,019 shares of the real estate investment trust’s stock after selling 61,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.11% of Simon Property Group worth $63,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group during the 4th quarter valued at about $28,000. WR Wealth Planners LLC boosted its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SPG. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Trading Up 1.5 %

SPG opened at $165.95 on Thursday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The business’s 50 day moving average is $177.62 and its two-hundred day moving average is $174.54. The firm has a market cap of $54.15 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.06%. Simon Property Group’s payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade 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 link. 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.