Usca Ria LLC Decreases Position in Simon Property Group Inc (SPG)

Usca Ria LLC decreased its position in shares of Simon Property Group Inc (NYSE:SPG) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,292 shares of the real estate investment trust’s stock after selling 1,734 shares during the period. Usca Ria LLC’s holdings in Simon Property Group were worth $7,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in Simon Property Group by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 6,096,513 shares of the real estate investment trust’s stock worth $940,997,000 after purchasing an additional 185,668 shares during the period. DnB Asset Management AS increased its holdings in Simon Property Group by 6.3% during the 2nd quarter. DnB Asset Management AS now owns 38,963 shares of the real estate investment trust’s stock worth $6,631,000 after purchasing an additional 2,300 shares during the period. IFM Investors Pty Ltd increased its holdings in Simon Property Group by 48.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 14,413 shares of the real estate investment trust’s stock worth $2,453,000 after purchasing an additional 4,715 shares during the period. Capital Investment Advisors LLC increased its holdings in Simon Property Group by 20.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 38,278 shares of the real estate investment trust’s stock worth $6,515,000 after purchasing an additional 6,537 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Simon Property Group by 21.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,744 shares of the real estate investment trust’s stock worth $978,000 after purchasing an additional 1,000 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on SPG shares. Jefferies Financial Group reiterated a “$170.72” rating and issued a $194.00 price objective on shares of Simon Property Group in a report on Wednesday, July 18th. Citigroup increased their price objective on Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. BMO Capital Markets reiterated a “buy” rating and issued a $175.00 price objective on shares of Simon Property Group in a report on Monday, July 30th. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 price objective on the stock in a report on Thursday, October 4th. Finally, Bank of America increased their price objective on Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a report on Monday, September 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $195.42.

SPG opened at $182.72 on Monday. The stock has a market capitalization of $57.79 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 6.14. Simon Property Group Inc has a one year low of $145.78 and a one year high of $188.21.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. On average, research analysts expect that Simon Property Group Inc will post 12.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a dividend of $2.00 per share. The ex-dividend date is Thursday, November 15th. This represents a $8.00 dividend on an annualized basis and a yield of 4.38%. Simon Property Group’s dividend payout ratio is presently 71.36%.

In related news, insider John Rulli sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total transaction of $1,119,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.64% of the company’s stock.

Simon Property Group 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.

Read More: What is Considered a Good Return on Equity (ROE)?

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

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