Vident Investment Advisory LLC grew its position in shares of Simon Property Group Inc (NYSE:SPG) by 109.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,590 shares of the real estate investment trust’s stock after acquiring an additional 5,002 shares during the period. Vident Investment Advisory LLC’s holdings in Simon Property Group were worth $1,632,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Kaizen Advisory LLC raised its stake in shares of Simon Property Group by 138.1% during the second quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 413 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of Simon Property Group during the second quarter valued at about $203,000. Cumberland Partners Ltd bought a new position in shares of Simon Property Group during the second quarter valued at about $204,000. Murphy Capital Management Inc. purchased a new position in shares of Simon Property Group during the second quarter valued at about $205,000. Finally, Pitcairn Co. purchased a new position in shares of Simon Property Group during the second quarter valued at about $213,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
SPG has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Simon Property Group to $183.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 21st. Wells Fargo & Co boosted their price target on shares of Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Citigroup boosted their price target on shares of Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Mizuho reiterated a “buy” rating and set a $188.00 price target on shares of Simon Property Group in a research report on Wednesday, August 1st. Finally, Bank of America boosted their price target on shares of Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Simon Property Group has an average rating of “Buy” and a consensus target price of $189.29.
In other news, CAO Steven K. Broadwater sold 859 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $170.28, for a total value of $146,270.52. Following the transaction, the chief accounting officer now owns 1,734 shares in the company, valued at $295,265.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Rulli sold 1,330 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $177.05, for a total transaction of $235,476.50. The disclosure for this sale can be found here. Corporate insiders own 8.64% of the company’s stock.
Shares of SPG opened at $182.50 on Monday. The stock has a market capitalization of $59.24 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.54 and a beta of 0.52. The company has a debt-to-equity ratio of 6.13, a quick ratio of 1.13 and a current ratio of 1.13. Simon Property Group Inc has a fifty-two week low of $145.78 and a fifty-two week high of $186.03.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.13. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a net margin of 40.11% and a return on equity of 55.59%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. equities analysts predict that Simon Property Group Inc will post 12.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Thursday, August 16th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.94. Simon Property Group’s dividend payout ratio is currently 71.36%.
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.
Further Reading: How to Profit and Limit Losses With Stop Orders
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).
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.