Allianz SE Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Allianz SE purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 53,196 shares of the real estate investment trust’s stock, valued at approximately $9,092,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Biondo Investment Advisors LLC increased its stake in shares of Simon Property Group by 0.9% during the fourth quarter. Biondo Investment Advisors LLC now owns 67,741 shares of the real estate investment trust’s stock valued at $11,666,000 after purchasing an additional 600 shares in the last quarter. DnB Asset Management AS increased its stake in Simon Property Group by 4.1% during the 4th quarter. DnB Asset Management AS now owns 60,906 shares of the real estate investment trust’s stock valued at $10,489,000 after purchasing an additional 2,412 shares in the last quarter. Slagle Financial LLC lifted its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Slagle Financial LLC now owns 12,767 shares of the real estate investment trust’s stock worth $2,199,000 after buying an additional 1,145 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Simon Property Group by 3.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 10,526 shares of the real estate investment trust’s stock valued at $1,813,000 after buying an additional 387 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Simon Property Group by 3.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 505,408 shares of the real estate investment trust’s stock valued at $87,036,000 after acquiring an additional 18,326 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $164.21 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The stock’s 50-day simple moving average is $175.42 and its 200-day simple moving average is $174.37. The company has a market capitalization of $53.58 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 10.10 and a beta of 1.78.

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

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given 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 5.12%. Simon Property Group’s payout ratio is 115.70%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price 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.