National Bank of Canada FI Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

National Bank of Canada FI decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,247 shares of the real estate investment trust’s stock after selling 51,191 shares during the quarter. National Bank of Canada FI’s holdings in Simon Property Group were worth $29,282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Simon Property Group in the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the third quarter worth about $30,000. RFP Financial Group LLC increased its holdings in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 160 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group during the 3rd quarter valued at approximately $42,000. Finally, Eastern Bank purchased a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial lifted their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Scotiabank increased their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $165.44.

Simon Property Group Stock Up 1.1 %

Shares of NYSE SPG opened at $183.84 on Monday. The firm has a market cap of $59.98 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 10.75 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $129.08 and a 1 year high of $186.00. The firm’s 50 day moving average price is $175.66 and its 200 day moving average price is $162.66.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 109.19%.

Insider Buying and Selling

In other news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.60% of the company’s stock.

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.