Brookfield Asset Management Inc. Grows Stake in Simon Property Group, Inc. (SPG)

Brookfield Asset Management Inc. raised its position in Simon Property Group, Inc. (NYSE:SPG) by 28.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,124,419 shares of the real estate investment trust’s stock after purchasing an additional 690,169 shares during the quarter. Simon Property Group comprises approximately 2.6% of Brookfield Asset Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Brookfield Asset Management Inc. owned 1.01% of Simon Property Group worth $505,406,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SPG. Teachers Advisors LLC increased its stake in shares of Simon Property Group by 1.8% in the first quarter. Teachers Advisors LLC now owns 1,097,866 shares of the real estate investment trust’s stock valued at $188,866,000 after purchasing an additional 19,832 shares during the period. Foresters Investment Management Company Inc. increased its stake in shares of Simon Property Group by 11.8% in the first quarter. Foresters Investment Management Company Inc. now owns 56,416 shares of the real estate investment trust’s stock valued at $9,705,000 after purchasing an additional 5,940 shares during the period. Global X Management Co. LLC increased its stake in shares of Simon Property Group by 20.1% in the first quarter. Global X Management Co. LLC now owns 3,061 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 513 shares during the period. Edgar Lomax Co. VA increased its stake in shares of Simon Property Group by 45.8% in the first quarter. Edgar Lomax Co. VA now owns 54,358 shares of the real estate investment trust’s stock valued at $9,351,000 after purchasing an additional 17,068 shares during the period. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Simon Property Group by 2.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 31 shares during the period. Institutional investors own 94.75% of the company’s stock.

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Simon Property Group, Inc. (NYSE SPG) traded down 4.34% during midday trading on Friday, reaching $156.66. 3,493,759 shares of the company’s stock were exchanged. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $189.25. The firm’s 50-day moving average is $162.00 and its 200 day moving average is $161.17. The stock has a market cap of $48.70 billion, a P/E ratio of 27.92 and a beta of 0.60.

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 (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. Simon Property Group’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post $6.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. This represents a $7.40 dividend on an annualized basis and a yield of 4.72%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s payout ratio is currently 127.89%.

Several equities research analysts have commented on the stock. BMO Capital Markets set a $175.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research note on Friday. Jefferies Group LLC reiterated a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a report on Monday, July 17th. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. BidaskClub upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Barclays PLC increased their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Buy” and a consensus price target of $193.07.

Simon Property Group Company 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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