National Bank of Canada FI Has $40.20 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Key Points

• National Bank of Canada FI increased its holdings in Simon Property Group by 40.3% during the first quarter, acquiring an additional 69,472 shares, bringing its total ownership to 242,023 shares valued at approximately $40.2 million.
• Simon Property Group recently reported earnings per share of $3.05, beating estimates and showing a revenue increase of 13.9% year-over-year, with a net margin of 36.78% and return on equity of 72.38%.
• The company's quarterly dividend was raised from $2.10 to $2.15, reflecting an annualized dividend of $8.60 and a yield of 5.2%; the ex-dividend date is set for September 9th.

National Bank of Canada FI lifted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 40.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,023 shares of the real estate investment trust's stock after acquiring an additional 69,472 shares during the period. National Bank of Canada FI owned approximately 0.07% of Simon Property Group worth $40,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC lifted its position 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 acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of 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 purchasing an additional 111 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after buying an additional 57 shares during the period. Finally, AdvisorNet Financial Inc boosted its position in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SPG shares. Mizuho dropped their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Stifel Nicolaus set a $179.00 price target on shares of Simon Property Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Piper Sandler cut their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 target price for the company. Finally, Barclays initiated 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 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $182.64.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded up $0.39 during trading on Monday, hitting $165.32. 1,190,798 shares of the stock were exchanged, compared to its average volume of 1,467,927. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a fifty day moving average price of $162.49 and a 200-day moving average price of $164.72. The stock has a market capitalization of $53.96 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 11.03 and a beta of 1.48. 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 announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned $2.90 earnings per share. The business's revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 5.2%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is 129.83%.

Insider Buying and Selling at Simon Property Group

In related news, Director Stefan M. Selig purchased 219 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the purchase, the director owned 31,881 shares in the company, valued at approximately $5,078,324.49. This represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 246 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,386 shares of company stock worth $380,066. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group 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.