Handelsbanken Fonder AB Has $20.53 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Handelsbanken Fonder AB decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,954 shares of the real estate investment trust's stock after selling 7,040 shares during the quarter. Handelsbanken Fonder AB's holdings in Simon Property Group were worth $20,534,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Cascade Investment Group Inc. grew its holdings in shares of Simon Property Group by 0.5% during the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust's stock worth $2,097,000 after buying an additional 80 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Simon Property Group by 16.6% in the fourth quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 80 shares during the period. Schechter Investment Advisors LLC grew its holdings in shares of Simon Property Group by 2.4% in the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust's stock valued at $485,000 after purchasing an additional 81 shares during the period. Evergreen Capital Management LLC lifted its position in Simon Property Group by 1.9% in the third quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust's stock valued at $495,000 after buying an additional 85 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Simon Property Group by 0.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,600 shares of the real estate investment trust's stock valued at $1,369,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on SPG shares. Morgan Stanley upped their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Evercore ISI increased their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 28th. StockNews.com raised shares of Simon Property Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 18th. Finally, Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a "hold" rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.22.

Simon Property Group Stock Up 1.0 %

NYSE:SPG traded up $1.37 during mid-day trading on Tuesday, hitting $143.78. The stock had a trading volume of 877,430 shares, compared to its average volume of 1,484,453. The stock has a 50-day simple moving average of $149.30 and a two-hundred day simple moving average of $136.47. The company has a market capitalization of $46.86 billion, a PE ratio of 20.60, a PEG ratio of 7.37 and a beta of 1.65. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $1.95 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group's dividend payout ratio is currently 111.75%.

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

Simon Property Group 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.