Nisa Investment Advisors LLC Cuts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Nisa Investment Advisors LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 about 0.06% of Simon Property Group worth $31,494,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Pitcairn Co. boosted its stake in Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 55 shares during the period. Colonial Trust Co SC boosted its stake in 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 valued at $36,000 after buying an additional 57 shares during the period. HighPoint Advisor Group LLC boosted its stake in Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after buying an additional 60 shares during the period. Signaturefd LLC boosted its stake in Simon Property Group by 1.3% during the fourth quarter. Signaturefd LLC now owns 5,542 shares of the real estate investment trust's stock valued at $954,000 after buying an additional 71 shares during the period. Finally, Aspiriant LLC boosted its stake in Simon Property Group by 1.3% during the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after buying an additional 74 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Daniel C. Smith bought 378 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $60,211.62. Following the acquisition, the director owned 31,998 shares of the company's stock, valued at approximately $5,096,961.42. The trade was a 1.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reuben S. Leibowitz bought 522 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the acquisition, the director directly 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 three months, insiders have bought 2,386 shares of company stock worth $380,066. Company insiders own 8.66% of the company's stock.

Simon Property Group Trading Down 1.0%

Shares of SPG traded down $1.66 during trading hours on Friday, hitting $161.79. The company had a trading volume of 452,552 shares, compared to its average volume of 1,657,255. The firm has a market cap of $52.81 billion, a P/E ratio of 25.76, a P/E/G ratio of 9.09 and a beta of 1.43. The stock's 50 day moving average price is $161.32 and its 200 day moving average price is $166.21. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

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

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. Scotiabank lifted their price target on 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. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Stifel Nicolaus lifted their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Mizuho dropped their price target on 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. Finally, JPMorgan Chase & Co. dropped their price target on 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. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $178.50.

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.