Avanza Fonder AB Invests $4.23 Million in Simon Property Group, Inc. (NYSE:SPG)

Avanza Fonder AB acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,557 shares of the real estate investment trust’s stock, valued at approximately $4,229,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Federated Hermes Inc. lifted its stake in shares of Simon Property Group by 19.7% in the second quarter. Federated Hermes Inc. now owns 21,012 shares of the real estate investment trust’s stock worth $3,190,000 after buying an additional 3,465 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth approximately $364,000. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Simon Property Group by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,521 shares of the real estate investment trust’s stock valued at $1,293,000 after purchasing an additional 499 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Simon Property Group by 8.4% in the second quarter. Blair William & Co. IL now owns 18,326 shares of the real estate investment trust’s stock valued at $2,782,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Simon Property Group by 147.6% during the second quarter. Intech Investment Management LLC now owns 25,904 shares of the real estate investment trust’s stock worth $3,932,000 after buying an additional 15,442 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Price Performance

Shares of SPG opened at $174.28 on Friday. The firm has a 50-day simple moving average of $177.28 and a two-hundred day simple moving average of $167.50. The stock has a market cap of $56.86 billion, a PE ratio of 23.21, a P/E/G ratio of 9.16 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $3.20 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Simon Property Group, Inc. will post 12.74 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 111.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $172.10.

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.