Nisa Investment Advisors LLC Has $49.79 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Nisa Investment Advisors LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 33.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 289,127 shares of the real estate investment trust’s stock after purchasing an additional 71,969 shares during the quarter. Nisa Investment Advisors LLC owned about 0.09% of Simon Property Group worth $49,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at about $364,000. Benjamin F. Edwards & Company Inc. grew its stake in Simon Property Group by 5.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,934 shares of the real estate investment trust’s stock valued at $597,000 after acquiring an additional 206 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Simon Property Group by 4.7% during the second quarter. Pacer Advisors Inc. now owns 23,230 shares of the real estate investment trust’s stock valued at $3,526,000 after acquiring an additional 1,052 shares in the last quarter. Profund Advisors LLC raised its position in shares of Simon Property Group by 2.7% during the second quarter. Profund Advisors LLC now owns 5,169 shares of the real estate investment trust’s stock worth $785,000 after purchasing an additional 137 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Simon Property Group by 5.4% during the second quarter. ProShare Advisors LLC now owns 61,323 shares of the real estate investment trust’s stock worth $9,309,000 after purchasing an additional 3,119 shares during the period. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SPG. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $175.88 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $57.39 billion, a PE ratio of 23.42, a PEG ratio of 9.33 and a beta of 1.75. The stock’s 50 day moving average price is $177.05 and its 200-day moving average price is $168.15. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.20 EPS. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.78%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

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.