KLP Kapitalforvaltning AS Purchases Shares of 178,642 Simon Property Group, Inc. (NYSE:SPG)

KLP Kapitalforvaltning AS acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 178,642 shares of the real estate investment trust's stock, valued at approximately $30,764,000. KLP Kapitalforvaltning AS owned 0.05% of Simon Property Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Simon Property Group in the 3rd quarter worth approximately $1,590,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Simon Property Group by 126.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust's stock valued at $1,568,000 after acquiring an additional 5,177 shares during the period. Advisors Asset Management Inc. lifted its holdings in Simon Property Group by 8.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,874 shares of the real estate investment trust's stock valued at $3,021,000 after buying an additional 1,387 shares in the last quarter. Intech Investment Management LLC grew its stake in Simon Property Group by 21.2% in the 3rd quarter. Intech Investment Management LLC now owns 31,388 shares of the real estate investment trust's stock worth $5,305,000 after acquiring an additional 5,484 shares in the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Simon Property Group by 1.6% during the third quarter. Raymond James Trust N.A. now owns 6,996 shares of the real estate investment trust's stock worth $1,182,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $180.33.

Simon Property Group Stock Down 0.1 %

Shares of SPG stock traded down $0.21 during mid-day trading on Tuesday, hitting $165.91. 1,658,110 shares of the stock traded hands, compared to its average volume of 1,341,945. The stock's fifty day moving average is $175.98 and its two-hundred day moving average is $174.45. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The stock has a market cap of $54.13 billion, a P/E ratio of 22.85, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts' consensus estimates 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 predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's payout ratio is 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

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.