Handelsbanken Fonder AB Sells 7,040 Shares of Simon Property Group, Inc. (NYSE:SPG)

Handelsbanken Fonder AB decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 143,954 shares of the real estate investment trust’s stock after selling 7,040 shares during the period. Handelsbanken Fonder AB’s holdings in Simon Property Group were worth $20,534,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC boosted its holdings in shares of Simon Property Group by 7.8% during the 4th quarter. CWM LLC now owns 6,914 shares of the real estate investment trust’s stock worth $986,000 after buying an additional 502 shares during the period. Vicus Capital bought a new stake in shares of Simon Property Group during the 4th quarter worth about $263,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Simon Property Group by 1.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,759 shares of the real estate investment trust’s stock worth $12,518,000 after purchasing an additional 1,380 shares in the last quarter. Signaturefd LLC raised its stake in Simon Property Group by 3.7% in the 4th quarter. Signaturefd LLC now owns 4,947 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 175 shares in the last quarter. Finally, Carmel Capital Partners LLC raised its stake in Simon Property Group by 3.5% in the 4th quarter. Carmel Capital Partners LLC now owns 6,719 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of several analyst reports. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley lifted their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Truist Financial lifted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, Evercore ISI lifted their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $142.37 on Tuesday. The firm has a 50 day moving average of $149.29 and a 200-day moving average of $136.19. The stock has a market capitalization of $46.40 billion, a PE ratio of 20.40, a PEG ratio of 7.37 and a beta of 1.65. 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, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS 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%. Simon Property Group’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.15 earnings per share. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 5.48%. This is a boost 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 is currently 111.75%.

Simon Property Group declared that its board has initiated a share buyback program on Thursday, February 8th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

About Simon Property Group

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.