Simon Quick Advisors LLC Purchases 570 Shares of Simon Property Group, Inc. (NYSE:SPG)

Simon Quick Advisors LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 37.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,088 shares of the real estate investment trust’s stock after purchasing an additional 570 shares during the quarter. Simon Quick Advisors LLC’s holdings in Simon Property Group were worth $360,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SPG. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group in the third quarter valued at $834,000. First Hawaiian Bank lifted its position in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC lifted its position in Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after purchasing an additional 10,644 shares during the last quarter. TTP Investments Inc. grew its stake in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after buying an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.2 %

SPG stock opened at $174.94 on Friday. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The firm’s 50-day moving average is $176.87 and its 200 day moving average is $168.40. The company has a market capitalization of $57.08 billion, a PE ratio of 23.29, a P/E/G ratio of 9.43 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.20 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.80%. Simon Property Group’s dividend payout ratio is presently 111.85%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $172.10.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.