KBC Group NV decreased its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 32.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 92,309 shares of the real estate investment trust’s stock after selling 44,413 shares during the quarter. KBC Group NV’s holdings in Simon Property Group were worth $15,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Cohen & Steers Inc. grew its position in shares of Simon Property Group by 6.2% during the 3rd quarter. Cohen & Steers Inc. now owns 12,350,345 shares of the real estate investment trust’s stock valued at $1,988,529,000 after acquiring an additional 719,375 shares during the period. APG Asset Management US Inc. grew its position in shares of Simon Property Group by 0.3% during the 4th quarter. APG Asset Management US Inc. now owns 7,517,948 shares of the real estate investment trust’s stock valued at $1,291,132,000 after acquiring an additional 24,208 shares during the period. Bank of New York Mellon Corp grew its position in shares of Simon Property Group by 13.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock valued at $1,067,204,000 after acquiring an additional 789,384 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Simon Property Group by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,460,741 shares of the real estate investment trust’s stock valued at $718,227,000 after acquiring an additional 21,676 shares during the period. Finally, PGGM Investments grew its position in shares of Simon Property Group by 2.3% during the 3rd quarter. PGGM Investments now owns 3,637,334 shares of the real estate investment trust’s stock valued at $585,647,000 after acquiring an additional 83,093 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on SPG. Zacks Investment Research downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $176.00 target price on shares of Simon Property Group in a report on Thursday, November 2nd. Argus dropped their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Mizuho set a $183.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, ValuEngine downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Buy” and an average target price of $191.11.

In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $171.95, for a total value of $106,780.95. Following the sale, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $393,765.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.42% of the stock is owned by insiders.

Shares of Simon Property Group Inc (NYSE SPG) opened at $156.80 on Tuesday. The company has a market cap of $100,571.84, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.00 and a beta of 0.55. Simon Property Group Inc has a one year low of $150.15 and a one year high of $187.35. The company has a quick ratio of 0.93, a current ratio of 1.75 and a debt-to-equity ratio of 5.87.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting the consensus estimate of $3.12. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. equities analysts forecast that Simon Property Group Inc will post 12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $1.95 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $7.80 annualized dividend and a yield of 4.97%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is presently 118.40%.

TRADEMARK VIOLATION NOTICE: “KBC Group NV Sells 44,413 Shares of Simon Property Group Inc (SPG)” was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://theolympiareport.com/2018/02/13/kbc-group-nv-sells-44413-shares-of-simon-property-group-inc-spg.html.

Simon Property Group Company Profile

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.