Nisa Investment Advisors LLC Sells 14,386 Shares of Simon Property Group, Inc. (NYSE:SPG)

Nisa Investment Advisors LLC lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 235,826 shares of the real estate investment trust's stock after selling 14,386 shares during the quarter. Nisa Investment Advisors LLC owned 0.07% of Simon Property Group worth $33,638,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPG. LPL Financial LLC grew its position in Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust's stock valued at $38,903,000 after acquiring an additional 51,380 shares in the last quarter. Nordea Investment Management AB grew its position in Simon Property Group by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust's stock valued at $21,923,000 after acquiring an additional 6,703 shares in the last quarter. SG Americas Securities LLC grew its position in Simon Property Group by 121.5% in the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust's stock valued at $4,565,000 after acquiring an additional 17,552 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $238,000. Finally, Invesco Ltd. grew its position in Simon Property Group by 3.1% in the third quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust's stock valued at $260,265,000 after acquiring an additional 71,751 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price on Simon Property Group from $144.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, December 21st. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Friday, March 29th. Morgan Stanley increased their target price on Simon Property Group from $143.00 to $145.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Piper Sandler increased their target price on Simon Property Group from $148.00 to $172.00 and gave the company an "overweight" rating in a research note on Wednesday, December 20th. Finally, Evercore ISI increased their target price on Simon Property Group from $142.00 to $150.00 and gave the company an "in-line" rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $140.22.

Simon Property Group Stock Performance

SPG traded up $2.20 during trading hours on Friday, hitting $150.15. 862,364 shares of the stock were exchanged, compared to its average volume of 1,413,319. The stock has a 50-day simple moving average of $148.75 and a 200-day simple moving average of $133.39. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The stock has a market cap of $48.93 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 7.88 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.15 earnings per share. Analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.19%. This is a positive change from Simon Property Group's previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group's dividend payout ratio (DPR) is 111.75%.

Simon Property Group declared that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.