Simon Property Group Inc (SPG) Shares Bought by First Republic Investment Management Inc.

First Republic Investment Management Inc. increased its position in Simon Property Group Inc (NYSE:SPG) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,103 shares of the real estate investment trust’s stock after buying an additional 5,077 shares during the quarter. First Republic Investment Management Inc.’s holdings in Simon Property Group were worth $20,698,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Advisor Partners LLC lifted its holdings in shares of Simon Property Group by 5.3% during the third quarter. Advisor Partners LLC now owns 5,589 shares of the real estate investment trust’s stock valued at $988,000 after purchasing an additional 282 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Simon Property Group by 2.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 11,601 shares of the real estate investment trust’s stock valued at $1,974,000 after purchasing an additional 285 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Simon Property Group by 2.0% during the second quarter. Alps Advisors Inc. now owns 16,519 shares of the real estate investment trust’s stock valued at $2,837,000 after purchasing an additional 320 shares during the last quarter. Opus Capital Group LLC lifted its holdings in shares of Simon Property Group by 16.8% during the third quarter. Opus Capital Group LLC now owns 2,221 shares of the real estate investment trust’s stock valued at $392,000 after purchasing an additional 320 shares during the last quarter. Finally, Boenning & Scattergood Inc. lifted its holdings in shares of Simon Property Group by 5.2% during the third quarter. Boenning & Scattergood Inc. now owns 6,913 shares of the real estate investment trust’s stock valued at $1,222,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 92.99% of the company’s stock.

SPG has been the subject of several analyst reports. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a report on Thursday, October 4th. Bank of America upped their target price on Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a report on Monday, September 10th. Argus upped their target price on Simon Property Group to $200.00 and gave the company a “buy” rating in a report on Thursday, October 11th. Citigroup upped their target price on Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, October 30th. Finally, Deutsche Bank set a $191.00 target price on Simon Property Group and gave the company a “hold” rating in a report on Friday, November 30th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Buy” and a consensus price target of $193.27.

Shares of Simon Property Group stock opened at $188.42 on Friday. The stock has a market capitalization of $61.07 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.65 and a beta of 0.42. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.12. Simon Property Group Inc has a 1 year low of $145.78 and a 1 year high of $191.16.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.07. The firm had revenue of $1.41 billion during 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 forecast that Simon Property Group Inc will post 12.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 4.25%. The ex-dividend date was Thursday, November 15th. Simon Property Group’s dividend payout ratio is currently 71.36%.

In related news, insider John Rulli sold 6,000 shares of the stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total value of $1,119,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.64% of the stock is currently owned by corporate insiders.

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About Simon Property Group

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: Asset Allocation, Balancing Your Investments

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

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