iA Global Asset Management Inc. Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

iA Global Asset Management Inc. reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,380 shares of the real estate investment trust’s stock after selling 480 shares during the period. iA Global Asset Management Inc.’s holdings in Simon Property Group were worth $1,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Hamlin Capital Management LLC bought a new position in shares of Simon Property Group during the fourth quarter worth about $109,403,000. KBC Group NV lifted its position in shares of Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Simon Property Group by 22,608.6% during the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after purchasing an additional 539,893 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Simon Property Group by 295.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after purchasing an additional 489,519 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $162.12 on Friday. The firm’s 50 day moving average is $176.11 and its two-hundred day moving average is $174.30. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The firm has a market capitalization of $52.90 billion, a P/E ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.18%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SPG shares. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.33.

Simon Property Group 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.