PFA Pension Forsikringsaktieselskab Makes New $28.15 Million Investment in Simon Property Group, Inc. $SPG

PFA Pension Forsikringsaktieselskab acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 150,686 shares of the real estate investment trust's stock, valued at approximately $28,153,000.

Several other institutional investors have also added to or reduced their stakes in SPG. Stance Capital LLC bought a new position in Simon Property Group in the 3rd quarter worth $26,000. Salomon & Ludwin LLC bought a new position in Simon Property Group in the 3rd quarter worth $39,000. Atlantic Union Bankshares Corp raised its holdings in Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 123 shares in the last quarter. City Holding Co. bought a new position in Simon Property Group in the 3rd quarter worth $40,000. Finally, Tompkins Financial Corp bought a new position in Simon Property Group in the 4th quarter worth $42,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPG. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research report on Friday, January 16th. Stifel Nicolaus upped their target price on shares of Simon Property Group from $184.00 to $185.00 and gave the stock a "hold" rating in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their target price on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Citigroup upped their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Finally, Barclays upped their target price on shares of Simon Property Group from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Monday, April 13th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $200.14.

Simon Property Group Stock Up 0.1%

NYSE:SPG opened at $202.57 on Monday. The firm's 50-day moving average price is $195.18 and its 200-day moving average price is $188.62. The company has a market capitalization of $65.82 billion, a PE ratio of 14.29, a P/E/G ratio of 6.66 and a beta of 1.33. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.28.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $3.68 EPS. The company's revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Simon Property Group, Inc. will post 13.19 EPS for the current fiscal year.

Simon Property Group announced that its Board of Directors has approved a stock buyback plan on Thursday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

About Simon Property Group

Simon Property Group, Inc NYSE: SPG is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon's portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.