Forsta AP Fonden Sells 18,100 Shares of Simon Property Group, Inc. (NYSE:SPG)

Forsta AP Fonden lowered its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,100 shares of the real estate investment trust's stock after selling 18,100 shares during the quarter. Forsta AP Fonden's holdings in Simon Property Group were worth $17,238,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SPG. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group during the third quarter valued at about $30,000. Trivant Custom Portfolio Group LLC purchased a new stake in Simon Property Group in the 3rd quarter valued at $42,000. Eastern Bank bought a new position in Simon Property Group during the 3rd quarter valued at $42,000. Ashton Thomas Securities LLC purchased a new position in Simon Property Group during the 3rd quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of SPG stock traded up $2.46 during trading hours on Thursday, reaching $176.09. The stock had a trading volume of 214,223 shares, compared to its average volume of 1,219,311. The stock's fifty day simple moving average is $176.35 and its 200 day simple moving average is $169.34. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The firm has a market capitalization of $57.45 billion, a PE ratio of 23.45, a PEG ratio of 9.26 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) 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 firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.20 EPS. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.72 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. Stockholders of record on Monday, December 9th were given a $2.10 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group's dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price target on the stock. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus target price 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.