OppenheimerFunds Inc. increased its position in shares of Simon Property Group Inc (NYSE:SPG) by 42.8% during the 1st quarter, Holdings Channel reports. The fund owned 117,768 shares of the real estate investment trust’s stock after buying an additional 35,308 shares during the quarter. OppenheimerFunds Inc.’s holdings in Simon Property Group were worth $21,459,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SPG. Advisors Asset Management Inc. grew its holdings in shares of Simon Property Group by 58.7% during the fourth quarter. Advisors Asset Management Inc. now owns 18,243 shares of the real estate investment trust’s stock worth $3,065,000 after buying an additional 6,751 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Simon Property Group by 24.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,911 shares of the real estate investment trust’s stock worth $993,000 after buying an additional 1,148 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in shares of Simon Property Group during the fourth quarter worth about $25,000. Chicago Equity Partners LLC grew its holdings in shares of Simon Property Group by 72.9% during the fourth quarter. Chicago Equity Partners LLC now owns 3,415 shares of the real estate investment trust’s stock worth $574,000 after buying an additional 1,440 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Simon Property Group by 3.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,080 shares of the real estate investment trust’s stock worth $685,000 after buying an additional 153 shares during the last quarter. 95.73% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider John Rulli sold 9,160 shares of Simon Property Group stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the sale, the insider now directly owns 29,646 shares in the company, valued at approximately $5,222,735.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.75% of the stock is currently owned by company insiders.

Shares of NYSE:SPG opened at $163.82 on Friday. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $50.22 billion, a P/E ratio of 13.51, a PEG ratio of 2.95 and a beta of 0.56. Simon Property Group Inc has a 52 week low of $159.69 and a 52 week high of $191.49.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.02. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share. On average, sell-side analysts anticipate that Simon Property Group Inc will post 12.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $2.05 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.01%. Simon Property Group’s payout ratio is 67.60%.

A number of brokerages recently commented on SPG. Mizuho downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price objective for the company. in a research report on Friday, February 15th. Barclays restated a “buy” rating and issued a $202.00 price objective on shares of Simon Property Group in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reduced their price objective on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. Finally, Deutsche Bank reduced their price objective on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $192.00.

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About Simon Property Group

Simon is a global leader 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.

Further Reading: Special Dividends

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)

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