KLP Kapitalforvaltning AS Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

KLP Kapitalforvaltning AS boosted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,042 shares of the real estate investment trust's stock after acquiring an additional 4,400 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of Simon Property Group worth $30,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Simon Property Group during the 4th quarter worth about $2,059,505,000. Geode Capital Management LLC raised its holdings in Simon Property Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after acquiring an additional 230,982 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Simon Property Group by 45.9% during 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 during the period. JPMorgan Chase & Co. grew its position in shares of Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after acquiring an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Simon Property Group by 14.8% during the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after acquiring an additional 542,511 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In related news, Director Stefan M. Selig acquired 219 shares of the stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the transaction, the director directly owned 31,881 shares of the company's stock, valued at $5,078,324.49. The trade was a 0.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel bought 234 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,386 shares of company stock worth $380,066 in the last quarter. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Up 1.3%

NYSE SPG traded up $2.16 during trading on Friday, hitting $167.12. The stock had a trading volume of 658,289 shares, compared to its average volume of 1,633,618. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market capitalization of $54.55 billion, a PE ratio of 26.60, a P/E/G ratio of 11.19 and a beta of 1.43. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The company's 50-day moving average price is $161.39 and its two-hundred day moving average price is $165.52.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results 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. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm earned $3.56 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio is 133.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Barclays began coverage on Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Finally, Mizuho cut their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average target price of $182.73.

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.