Oppenheimer Asset Management Inc. increased its position in shares of Simon Property Group Inc (NYSE:SPG) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,794 shares of the real estate investment trust’s stock after purchasing an additional 2,407 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Simon Property Group were worth $3,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. increased its holdings in Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 169 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Simon Property Group by 0.7% in 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 buying an additional 7 shares in the last quarter. Highstreet Asset Management Inc. purchased a new position in Simon Property Group in the second quarter valued at about $157,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Simon Property Group by 791.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 4,843 shares in the last quarter. Finally, Boston Private Wealth LLC increased its holdings in Simon Property Group by 5.3% in the second quarter. Boston Private Wealth LLC now owns 1,261 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 63 shares in the last quarter. 47.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Simon Property Group Inc (SPG) traded up $0.18 on Friday, hitting $162.25. 1,366,699 shares of the stock were exchanged, compared to its average volume of 1,782,379. 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 fifty-two week low of $150.15 and a fifty-two week high of $188.10. The stock has a market cap of $103,802.69, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $2.70 EPS. The company’s revenue was up 3.4% on a year-over-year basis. equities analysts expect that Simon Property Group Inc will post 11.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a dividend of $1.85 per share. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is 130.51%.

A number of brokerages have issued reports on SPG. Raymond James Financial set a $185.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a report on Sunday, December 3rd. Argus dropped their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $170.00 target price on shares of Simon Property Group in a report on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and issued a $200.00 target price (up from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. Finally, Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Simon Property Group presently has a consensus rating of “Buy” and an average target price of $191.11.

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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.

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

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