ASR Vermogensbeheer N.V. Acquires Shares of 43,286 Simon Property Group, Inc. (NYSE:SPG)

Key Points

• ASR Vermogensbeheer N.V. has acquired 43,286 shares of Simon Property Group, valued at approximately $7.19 million, in the first quarter as per its recent SEC filing.
• Simon Property Group announced a quarterly dividend of $2.15 per share, reflecting an increase from the previous $2.10 dividend, with a yield of 5.1%.
• Despite a recent 1.0% decline in share price, analysts maintain a "Hold" rating on Simon Property Group with a consensus target price of $182.64.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 43,286 shares of the real estate investment trust's stock, valued at approximately $7,189,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC boosted its stake in Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 57 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after acquiring an additional 70 shares in the last quarter. Aspiriant LLC boosted its stake in Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after acquiring an additional 74 shares in the last quarter. DoubleLine ETF Adviser LP boosted its stake in Simon Property Group by 0.3% in the fourth quarter. DoubleLine ETF Adviser LP now owns 21,970 shares of the real estate investment trust's stock valued at $3,783,000 after acquiring an additional 75 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in Simon Property Group by 2.2% in 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 acquiring an additional 75 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Buying and Selling

In other news, Director Larry C. Glasscock acquired 396 shares of the business's stock in a transaction on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reuben S. Leibowitz acquired 522 shares of the business's stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $83,149.38. Following the acquisition, the director directly owned 58,195 shares of the company's stock, valued at $9,269,881.55. This represents a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,386 shares of company stock valued at $380,066 in the last ninety days. Company insiders own 8.66% of the company's stock.

Simon Property Group Trading Down 1.0%

Shares of Simon Property Group stock opened at $167.58 on Thursday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.45. The firm has a fifty day moving average price of $162.34 and a 200 day moving average price of $165.04. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The stock has a market cap of $54.70 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 11.34 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the company posted $2.90 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 5.1%. Simon Property Group's dividend payout ratio is presently 132.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SPG shares. Mizuho lowered their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Barclays assumed coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. Finally, Scotiabank lifted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $182.64.

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.

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