KBC Group NV lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 11.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 742,069 shares of the real estate investment trust’s stock after selling 97,933 shares during the period. KBC Group NV owned approximately 0.23% of Simon Property Group worth $165,963,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Stance Capital LLC acquired a new stake in Simon Property Group in the 3rd quarter valued at approximately $26,000. Wilkerson Advisory Group LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth approximately $29,000. SHP Wealth Management bought a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $34,000. Dynamic Wealth Strategies LLC boosted its position in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 139 shares during the period. Finally, MV Capital Management Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter worth $46,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
Simon Property Group Price Performance
Shares of NYSE:SPG opened at $219.34 on Friday. Simon Property Group, Inc. has a 1-year low of $171.22 and a 1-year high of $238.50. The firm has a market capitalization of $71.13 billion, a PE ratio of 15.47, a PEG ratio of 2.84 and a beta of 1.30. The business’s 50 day moving average is $222.30 and its 200-day moving average is $205.94. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 5.19.
Simon Property Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group’s payout ratio is 63.47%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on SPG shares. Bank of America boosted their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Weiss Ratings raised shares of Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Evercore set a $215.00 price target on shares of Simon Property Group in a research report on Tuesday, July 7th. Barclays boosted their price objective on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Finally, Morgan Stanley upped their price objective on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $221.07.
Read Our Latest Stock Report on SPG
Insider Transactions at Simon Property Group
In other Simon Property Group news, Director Marta R. Stewart bought 182 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $223.16 per share, for a total transaction of $40,615.12. Following the transaction, the director owned 18,000 shares in the company, valued at approximately $4,016,880. The trade was a 1.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary M. Rodkin bought 256 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the transaction, the director owned 21,016 shares in the company, valued at $4,693,713.44. This represents a 1.23% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 2,387 shares of company stock worth $533,056. 8.73% of the stock is currently owned by company insiders.
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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