DekaBank Deutsche Girozentrale Buys 2,205 Shares of Simon Property Group, Inc. (NYSE:SPG)

DekaBank Deutsche Girozentrale raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,087 shares of the real estate investment trust’s stock after purchasing an additional 2,205 shares during the period. DekaBank Deutsche Girozentrale owned 0.08% of Simon Property Group worth $38,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lighthouse Investment Partners LLC purchased a new position in Simon Property Group during the fourth quarter worth about $5,706,000. Corient Private Wealth LLC increased its holdings in shares of Simon Property Group by 97.8% in the 4th quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock worth $10,708,000 after buying an additional 37,108 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Simon Property Group by 3.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 510,682 shares of the real estate investment trust’s stock worth $71,541,000 after buying an additional 15,251 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Simon Property Group by 9.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock worth $11,670,000 after buying an additional 7,250 shares during the last quarter. Finally, Napa Wealth Management purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $3,151,000. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Argus lifted their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Scotiabank increased their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Down 1.5 %

NYSE SPG traded down $2.37 on Friday, hitting $151.07. 1,433,105 shares of the stock were exchanged, compared to its average volume of 1,271,478. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a fifty day moving average price of $150.32 and a two-hundred day moving average price of $148.04. The firm has a market capitalization of $49.24 billion, a P/E ratio of 19.24, a P/E/G ratio of 8.92 and a beta of 1.75. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $158.50.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.74 earnings per share. Research analysts forecast that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is 101.91%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.