Handelsbanken Fonder AB Buys 44,141 Shares of Simon Property Group, Inc. (NYSE:SPG)

Handelsbanken Fonder AB increased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 29.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 194,846 shares of the real estate investment trust's stock after purchasing an additional 44,141 shares during the period. Handelsbanken Fonder AB owned about 0.06% of Simon Property Group worth $33,554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter worth $30,000. Wingate Wealth Advisors Inc. purchased a new stake in Simon Property Group in the 4th quarter worth about $41,000. Synergy Asset Management LLC purchased a new stake in Simon Property Group in the 4th quarter worth about $41,000. Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth about $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Simon Property Group during the 4th quarter valued at about $45,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the business's stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company's stock.

Simon Property Group Stock Down 1.5 %

Shares of Simon Property Group stock traded down $2.85 during midday trading on Friday, reaching $183.86. 1,367,631 shares of the company's stock traded hands, compared to its average volume of 1,294,712. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13. The company's 50 day simple moving average is $176.29 and its 200 day simple moving average is $172.35. The company has a market cap of $59.99 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 10.05 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group's dividend payout ratio (DPR) is currently 115.70%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPG. Mizuho increased their price target 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $175.10.

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.