TD Asset Management Inc. boosted its position in Simon Property Group Inc (NYSE:SPG) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 90,843 shares of the real estate investment trust’s stock after acquiring an additional 2,625 shares during the period. TD Asset Management Inc.’s holdings in Simon Property Group were worth $15,261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Community Bank N.A. purchased a new stake in Simon Property Group during the fourth quarter valued at about $28,000. First Personal Financial Services boosted its position in Simon Property Group by 37.4% during the fourth quarter. First Personal Financial Services now owns 224 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 61 shares during the period. Gradient Investments LLC boosted its position in Simon Property Group by 42.6% during the fourth quarter. Gradient Investments LLC now owns 291 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 87 shares during the period. CWM LLC boosted its position in Simon Property Group by 65.8% during the fourth quarter. CWM LLC now owns 335 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 133 shares during the period. Finally, Cornerstone Advisors Inc. boosted its position in Simon Property Group by 22.6% during the third quarter. Cornerstone Advisors Inc. now owns 369 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 68 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Shares of Simon Property Group stock traded down $0.10 during trading on Monday, reaching $184.00. 8,553 shares of the stock were exchanged, compared to its average volume of 1,428,903. The company has a current ratio of 0.97, a quick ratio of 1.12 and a debt-to-equity ratio of 6.21. The firm has a market cap of $58.99 billion, a P/E ratio of 15.18, a P/E/G ratio of 3.03 and a beta of 0.59. Simon Property Group Inc has a 1 year low of $145.78 and a 1 year high of $191.49.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, February 1st. The real estate investment trust reported $3.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.24 by ($0.01). The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a return on equity of 63.21% and a net margin of 43.11%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 earnings per share. Research analysts forecast that Simon Property Group Inc will post 12.39 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be issued a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Wednesday, February 13th. Simon Property Group’s dividend payout ratio is currently 65.95%.

SPG has been the subject of several analyst reports. Morgan Stanley set a $180.00 price target on shares of Simon Property Group and gave the company a “hold” rating in a research report on Tuesday, November 27th. Scotiabank initiated coverage on shares of Simon Property Group in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. Deutsche Bank set a $191.00 price target on shares of Simon Property Group and gave the company a “hold” rating in a research report on Friday, November 30th. Wells Fargo & Co lowered shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a research report on Friday. Finally, Citigroup upped their price target on shares of Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $194.33.

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Simon Property Group Company Profile

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.

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

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