Securian Asset Management Inc. Sells 451 Shares of Simon Property Group, Inc. (NYSE:SPG)

Securian Asset Management Inc. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,741 shares of the real estate investment trust’s stock after selling 451 shares during the period. Securian Asset Management Inc.’s holdings in Simon Property Group were worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Clearstead Trust LLC bought a new position in Simon Property Group in the first quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the second quarter worth $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group during the first quarter valued at $26,000. Cape Investment Advisory Inc. increased its holdings in Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Simon Property Group in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several analyst reports. Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday. Scotiabank raised their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, Evercore ISI lifted their target price on shares of Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.50.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded down $6.15 during mid-day trading on Monday, reaching $152.52. The company had a trading volume of 1,096,818 shares, compared to its average volume of 1,467,064. The company’s 50-day moving average price is $150.89 and its 200-day moving average price is $148.51. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $159.73. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 9.03 and a beta of 1.75. The company has a current ratio of 2.04, a quick ratio of 2.19 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.88 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 5.38%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.50% of the company’s stock.

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.