Nordea Investment Management AB Sells 120,413 Shares of Simon Property Group, Inc. (NYSE:SPG)

Nordea Investment Management AB decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 81.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 28,170 shares of the real estate investment trust's stock after selling 120,413 shares during the period. Nordea Investment Management AB's holdings in Simon Property Group were worth $4,843,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SPG. GAMMA Investing LLC raised its holdings in Simon Property Group by 13.4% in the 4th quarter. GAMMA Investing LLC now owns 5,331 shares of the real estate investment trust's stock valued at $918,000 after acquiring an additional 630 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after purchasing an additional 421 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Simon Property Group in the third quarter valued at about $1,144,000. Inspire Trust Co. N.A. raised its stake in Simon Property Group by 8.7% in the third quarter. Inspire Trust Co. N.A. now owns 12,500 shares of the real estate investment trust's stock valued at $2,113,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in Simon Property Group by 50.7% during the third quarter. Synovus Financial Corp now owns 2,607 shares of the real estate investment trust's stock worth $440,000 after purchasing an additional 877 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Analysts Set New Price Targets

SPG has been the topic of several recent analyst reports. Evercore ISI raised shares of Simon Property Group from an "in-line" rating to an "outperform" rating and raised their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a research note 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 research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target on the stock. Finally, StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average target price of $172.10.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm's stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company's stock.

Simon Property Group Trading Down 2.1 %

Shares of Simon Property Group stock traded down $3.68 on Friday, hitting $171.01. The stock had a trading volume of 2,010,274 shares, compared to its average volume of 1,617,621. The stock has a 50 day moving average of $177.38 and a 200 day moving average of $166.98. The firm has a market capitalization of $55.80 billion, a P/E ratio of 22.77, a PEG ratio of 10.50 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.20 earnings per share. Sell-side analysts expect that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.91%. Simon Property Group's payout ratio is 111.85%.

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.