Thrivent Financial for Lutherans Has $22.98 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Thrivent Financial for Lutherans raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,458 shares of the real estate investment trust's stock after acquiring an additional 9,192 shares during the quarter. Thrivent Financial for Lutherans' holdings in Simon Property Group were worth $22,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC boosted its position in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. TCTC Holdings LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $34,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SPG shares. StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a report on Friday. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started 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 for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $180.33.

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Simon Property Group Trading Down 0.1 %

Shares of SPG stock traded down $0.21 on Tuesday, hitting $165.91. The stock had a trading volume of 1,661,756 shares, compared to its average volume of 1,341,945. The firm has a market cap of $54.13 billion, a P/E ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a fifty day moving average price of $175.98 and a two-hundred day moving average price of $174.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.06%. Simon Property Group's dividend payout ratio (DPR) is currently 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were acquired 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 directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company's stock.

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.