Massey Quick Simon & CO. LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,338 shares of the real estate investment trust’s stock, valued at approximately $215,000.

Other institutional investors have also modified their holdings of the company. Norway Savings Bank raised its position in shares of Simon Property Group by 19.5% in the 2nd quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 125 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Simon Property Group by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 98,432 shares of the real estate investment trust’s stock valued at $15,838,000 after purchasing an additional 375 shares during the last quarter. Alpha Windward LLC grew its holdings in Simon Property Group by 12.2% during the 2nd quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 93 shares during the last quarter. Aperio Group LLC grew its holdings in Simon Property Group by 7.7% during the 2nd quarter. Aperio Group LLC now owns 95,758 shares of the real estate investment trust’s stock worth $15,490,000 after acquiring an additional 6,843 shares during the last quarter. Finally, Highland Capital Management LLC grew its holdings in Simon Property Group by 60.8% during the 2nd quarter. Highland Capital Management LLC now owns 3,448 shares of the real estate investment trust’s stock worth $558,000 after acquiring an additional 1,304 shares during the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.

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A number of equities research analysts have weighed in on SPG shares. Barclays PLC reduced their target price on shares of Simon Property Group from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating on shares of Simon Property Group in a report on Tuesday, July 25th. BidaskClub raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Argus reduced their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $191.45.

Simon Property Group, Inc. (NYSE:SPG) traded up $0.20 during midday trading on Wednesday, hitting $160.51. 2,085,800 shares of the stock traded hands, compared to its average volume of 1,827,928. The company has a market cap of $102,561.53, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.60. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $189.25.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a dividend of $1.85 per share. The ex-dividend date is Wednesday, November 15th. This represents a $7.40 annualized dividend and a yield of 4.61%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is presently 126.98%.

Simon Property Group 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.

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

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