Swedbank AB Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

Swedbank AB lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128,987 shares of the real estate investment trust's stock after selling 3,083 shares during the period. Swedbank AB's holdings in Simon Property Group were worth $22,213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SPG. SteelPeak Wealth LLC boosted its stake in Simon Property Group by 18.8% in the fourth quarter. SteelPeak Wealth LLC now owns 9,153 shares of the real estate investment trust's stock valued at $1,576,000 after acquiring an additional 1,446 shares during the last quarter. Vert Asset Management LLC grew its holdings in Simon Property Group by 3.1% during the fourth quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust's stock valued at $21,595,000 after purchasing an additional 3,783 shares during the period. Nilsine Partners LLC raised its stake in shares of Simon Property Group by 9.8% in the fourth quarter. Nilsine Partners LLC now owns 2,712 shares of the real estate investment trust's stock valued at $467,000 after buying an additional 242 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Simon Property Group by 0.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 31,634 shares of the real estate investment trust's stock worth $5,448,000 after acquiring an additional 155 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Simon Property Group by 42.8% in the 4th quarter. Pacer Advisors Inc. now owns 32,466 shares of the real estate investment trust's stock valued at $5,591,000 after acquiring an additional 9,737 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $172.10.

Simon Property Group Stock Performance

Simon Property Group stock opened at $176.87 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $57.71 billion, a P/E ratio of 23.37, a P/E/G ratio of 9.30 and a beta of 1.75. The firm has a 50-day moving average of $176.23 and a 200-day moving average of $169.38. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the company earned $3.20 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company's stock, valued at $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 this hyperlink. Insiders own 8.50% of the company's stock.

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.