Forsta AP Fonden Has $11.46 Million Stake in Simon Property Group, Inc. $SPG

Forsta AP Fonden trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 30.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,300 shares of the real estate investment trust’s stock after selling 30,600 shares during the quarter. Forsta AP Fonden’s holdings in Simon Property Group were worth $11,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Legacy Wealth Asset Management LLC increased its stake in Simon Property Group by 0.5% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after buying an additional 66 shares during the period. Great Lakes Advisors LLC raised its holdings in shares of Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 68 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Simon Property Group by 1.0% during the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after acquiring an additional 68 shares in the last quarter. PFS Partners LLC boosted its position in Simon Property Group by 13.6% during the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 68 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in Simon Property Group by 2.2% during the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 75 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Evercore ISI boosted their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Argus restated a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $189.85.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $183.55 on Friday. The business’s 50-day simple moving average is $180.73 and its 200-day simple moving average is $170.32. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The firm has a market cap of $59.93 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is currently 128.09%.

Insiders Place Their Bets

In other Simon Property Group news, Director Gary M. Rodkin purchased 219 shares of the stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz acquired 464 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the purchase, the director directly owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This trade represents a 0.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 2,121 shares of company stock worth $394,400 in the last ninety days. 8.60% of the stock is owned by insiders.

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.