Pensionfund Sabic Sells 500 Shares of Simon Property Group, Inc. (NYSE:SPG)

Pensionfund Sabic lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 24,106 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Simon Property Group accounts for approximately 1.1% of Pensionfund Sabic’s portfolio, making the stock its 20th biggest position. Pensionfund Sabic’s holdings in Simon Property Group were worth $4,151,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group during the 2nd quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the 3rd quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Simon Property Group in the third quarter worth $42,000. Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth about $42,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Simon Property Group in the third quarter valued at approximately $52,000. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday. 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 research report on Wednesday, December 4th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Price Performance

SPG traded down $0.64 during trading on Monday, reaching $175.43. The company’s stock had a trading volume of 86,234 shares, compared to its average volume of 702,973. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market cap of $57.24 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 10.50 and a beta of 1.75. The firm has a fifty day simple moving average of $177.07 and a two-hundred day simple moving average of $166.20.

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 the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.20 earnings per share. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The firm 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. The ex-dividend date was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 4.79%. Simon Property Group’s dividend payout ratio is currently 111.85%.

Simon Property Group 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.