IFM Investors Pty Ltd Purchases 5,980 Shares of Simon Property Group, Inc. (NYSE:SPG)

IFM Investors Pty Ltd increased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,186 shares of the real estate investment trust's stock after buying an additional 5,980 shares during the period. IFM Investors Pty Ltd's holdings in Simon Property Group were worth $23,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $2,059,505,000. Principal Financial Group Inc. raised its holdings in Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after purchasing an additional 1,830,264 shares in the last quarter. Northern Trust Corp raised its holdings in Simon Property Group by 45.9% in the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after purchasing an additional 1,718,398 shares in the last quarter. Resolution Capital Ltd purchased a new position in Simon Property Group during the fourth quarter valued at $212,592,000. Finally, GAMMA Investing LLC lifted its position in Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock valued at $145,608,000 after buying an additional 871,405 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Scotiabank upped 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 report on Tuesday, June 17th. Mizuho decreased 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. Stifel Nicolaus boosted their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler cut their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $178.50.

Insider Activity

In related news, Director Gary M. Rodkin acquired 246 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. This trade represents a 1.31% 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 Stefan M. Selig acquired 219 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the transaction, the director owned 31,881 shares of the company's stock, valued at $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,386 shares of company stock worth $380,066. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Stock Up 0.4%

Shares of NYSE SPG traded up $0.63 during midday trading on Friday, hitting $166.47. The stock had a trading volume of 925,334 shares, compared to its average volume of 1,541,335. The business's 50 day moving average is $160.66 and its 200-day moving average is $166.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. The company has a market cap of $54.34 billion, a P/E ratio of 26.51, a PEG ratio of 9.30 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.56 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's payout ratio is presently 133.76%.

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.