Czech National Bank boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,303 shares of the real estate investment trust’s stock after purchasing an additional 3,732 shares during the period. Czech National Bank’s holdings in Simon Property Group were worth $20,644,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in Simon Property Group during the 4th quarter valued at about $295,000. Marshall Wace LLP lifted its position in shares of Simon Property Group by 316.2% in the 2nd quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after purchasing an additional 15,033 shares during the period. Jump Financial LLC boosted its stake in shares of Simon Property Group by 80.1% during the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after purchasing an additional 7,506 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Simon Property Group by 1.7% during the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after buying an additional 3,372 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.
Simon Property Group Price Performance
Shares of SPG stock opened at $222.56 on Friday. Simon Property Group, Inc. has a fifty-two week low of $163.29 and a fifty-two week high of $238.50. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $72.17 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.87 and a beta of 1.30. The stock’s 50-day simple moving average is $220.80 and its 200-day simple moving average is $204.70.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $2.25 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group’s dividend payout ratio is 62.54%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on SPG shares. Evercore set a $215.00 price objective on shares of Simon Property Group in a research note on Tuesday, July 7th. Jefferies Financial Group upgraded Simon Property Group to a “strong-buy” rating in a report on Friday, June 26th. Truist Financial boosted their price target on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Morgan Stanley upped their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Finally, Bank of America raised their price objective on Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $216.14.
View Our Latest Analysis on SPG
Insiders Place Their Bets
In related news, Director Daniel C. Smith acquired 372 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the purchase, the director owned 34,480 shares of the company’s stock, valued at approximately $7,699,728.80. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel acquired 243 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the acquisition, the director directly owned 21,067 shares of the company’s stock, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company’s stock.
Simon Property Group Profile
Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.
Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.
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