National Pension Service Buys 14,956 Shares of Simon Property Group Inc (SPG)

National Pension Service raised its stake in shares of Simon Property Group Inc (NYSE:SPG) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 288,410 shares of the real estate investment trust’s stock after purchasing an additional 14,956 shares during the period. National Pension Service’s holdings in Simon Property Group were worth $49,532,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Simon Property Group by 69.7% during the third quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 317 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Simon Property Group by 0.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 7 shares during the period. Ausdal Financial Partners Inc. bought a new stake in Simon Property Group during the third quarter valued at about $204,000. Probity Advisors Inc. bought a new stake in Simon Property Group during the third quarter valued at about $211,000. Finally, Massey Quick Simon & CO. LLC bought a new stake in Simon Property Group during the third quarter valued at about $215,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Inc (SPG) opened at $165.04 on Wednesday. The firm has a market capitalization of $105,888.34, a PE ratio of 29.11, a PEG ratio of 2.07 and a beta of 0.62. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. Simon Property Group Inc has a one year low of $150.15 and a one year high of $187.35.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 earnings per share. research analysts forecast that Simon Property Group Inc will post 11.21 EPS for the current year.

SPG has been the subject of several recent research reports. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a report on Wednesday, October 11th. Stifel Nicolaus reissued a “hold” rating and set a $170.00 price target on shares of Simon Property Group in a report on Thursday, October 12th. BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Friday, October 27th. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Mizuho set a $183.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $191.11.

In related news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the sale, the chief accounting officer now directly owns 2,290 shares in the company, valued at $393,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.42% of the stock is currently owned by insiders.

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About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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