Forsta AP Fonden Has $16.92 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Key Points

• Forsta AP Fonden increased its stake in Simon Property Group, Inc. (SPG) by 1.8%, owning 101,900 shares valued at approximately $16.92 million.
• The company recently declared a quarterly dividend of $2.15 per share, which is an increase from the previous $2.10 and reflects a 5.2% yield.
• Simon Property Group's stock is currently rated as "Hold"** by analysts, with an average price target of $182.64.

Forsta AP Fonden raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,900 shares of the real estate investment trust's stock after buying an additional 1,800 shares during the quarter. Forsta AP Fonden's holdings in Simon Property Group were worth $16,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC increased its holdings in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its holdings in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 111 shares during the period. Continuum Advisory LLC increased its holdings in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 156 shares during the period. Colonial Trust Co SC increased its holdings in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 95 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE SPG traded up $4.10 on Tuesday, hitting $169.30. 1,242,467 shares of the company were exchanged, compared to its average volume of 1,631,056. The firm has a 50 day moving average of $162.49 and a two-hundred day moving average of $164.72. The company has a market cap of $55.26 billion, a P/E ratio of 26.17, a P/E/G ratio of 11.03 and a beta of 1.48. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly 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. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, September 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 129.83%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 396 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the transaction, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the transaction, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,386 shares of company stock worth $380,066. Insiders own 8.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on SPG. Barclays began coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. Stifel Nicolaus set a $179.00 target price on shares of Simon Property Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. LADENBURG THALM/SH SH began 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 on the stock. Mizuho reduced their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and an average price target 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.