Nisa Investment Advisors LLC Has $31.49 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Nisa Investment Advisors LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 34.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 189,634 shares of the real estate investment trust's stock after selling 99,493 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Simon Property Group worth $31,494,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SPG. Farther Finance Advisors LLC increased its stake in shares of Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC increased its position in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after buying an additional 509 shares during the period. Brighton Jones LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $295,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after acquiring an additional 4,589 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of Simon Property Group in the first quarter valued at about $717,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPG shares. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Scotiabank lifted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Stifel Nicolaus upped their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Seven research analysts have rated the stock with a hold rating and four have issued 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 at Simon Property Group

In other news, Director Gary M. Rodkin bought 246 shares of the company's stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the purchase, the director directly owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,386 shares of company stock valued at $380,066. 8.66% of the stock is owned by company insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $1.76 during trading on Friday, reaching $161.69. 1,112,287 shares of the company's stock were exchanged, compared to its average volume of 1,547,267. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The company has a market cap of $52.78 billion, a P/E ratio of 25.75, a PEG ratio of 9.11 and a beta of 1.43. The firm's 50-day moving average price is $161.31 and its 200 day moving average price is $166.13.

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

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.20%. Simon Property Group's payout ratio is presently 133.76%.

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.