Skandinaviska Enskilda Banken AB publ Reduces Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Skandinaviska Enskilda Banken AB publ cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 423,221 shares of the real estate investment trust’s stock after selling 10,300 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.13% of Simon Property Group worth $64,245,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in shares of Simon Property Group by 1.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,065,067 shares of the real estate investment trust’s stock valued at $161,677,000 after acquiring an additional 15,600 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Simon Property Group by 5.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,934 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 206 shares in the last quarter. Ieq Capital LLC raised its position in shares of Simon Property Group by 11.5% in the second quarter. Ieq Capital LLC now owns 14,366 shares of the real estate investment trust’s stock valued at $2,181,000 after buying an additional 1,484 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Simon Property Group by 147.6% during the second quarter. Intech Investment Management LLC now owns 25,904 shares of the real estate investment trust’s stock valued at $3,932,000 after buying an additional 15,442 shares during the period. Finally, Riverview Capital Advisers LLC boosted its position in Simon Property Group by 0.4% during the second quarter. Riverview Capital Advisers LLC now owns 57,668 shares of the real estate investment trust’s stock worth $8,754,000 after acquiring an additional 219 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPG shares. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a report on Monday. Truist Financial upped their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Scotiabank raised their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $162.78.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 1.6 %

SPG opened at $167.05 on Friday. The stock has a market capitalization of $54.46 billion, a PE ratio of 21.28, a P/E/G ratio of 9.04 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. The firm’s fifty day moving average price is $158.86 and its 200 day moving average price is $152.03.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.88 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

About Simon Property Group

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.