Bridgecreek Investment Management LLC raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,645 shares of the real estate investment trust’s stock after acquiring an additional 1,640 shares during the quarter. Bridgecreek Investment Management LLC’s holdings in Simon Property Group were worth $4,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Simon Property Group by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 45,741,576 shares of the real estate investment trust’s stock valued at $7,399,158,000 after buying an additional 259,901 shares during the last quarter. Capital World Investors boosted its holdings in shares of Simon Property Group by 25.4% in the 2nd quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock valued at $3,362,667,000 after buying an additional 4,210,000 shares during the last quarter. APG Asset Management US Inc. boosted its holdings in shares of Simon Property Group by 3.2% in the 3rd quarter. APG Asset Management US Inc. now owns 7,493,740 shares of the real estate investment trust’s stock valued at $1,206,567,000 after buying an additional 235,200 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Simon Property Group by 9.7% in the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after buying an additional 542,743 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Simon Property Group by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,838,794 shares of the real estate investment trust’s stock valued at $944,483,000 after buying an additional 108,510 shares during the last quarter. 95.24% of the stock is owned by institutional investors.

Several brokerages have issued reports on SPG. BidaskClub raised Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a report on Monday, July 17th. Barclays PLC cut their price target on Simon Property Group from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Argus cut their price target on Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $191.45.

Shares of Simon Property Group, Inc. (NYSE:SPG) traded down $3.46 during midday trading on Monday, hitting $160.30. The company had a trading volume of 2,071,315 shares, compared to its average volume of 1,821,617. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $189.25. The company has a market capitalization of $51,640.00, a PE ratio of 14.87, a P/E/G ratio of 2.20 and a beta of 0.60.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a $1.85 dividend. This represents a $7.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Wednesday, November 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s payout ratio is currently 127.21%.

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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.

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

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