Stelac Advisory Services LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,385 shares of the real estate investment trust’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. Capital World Investors increased its stake in Simon Property Group by 25.4% during the second quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock worth $3,362,667,000 after acquiring an additional 4,210,000 shares during the last quarter. Eaton Vance Management grew its stake in shares of Simon Property Group by 110.5% during the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after buying an additional 811,457 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Simon Property Group by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock valued at $1,067,204,000 after buying an additional 789,384 shares during the last quarter. Uniplan Investment Counsel Inc. grew its stake in shares of Simon Property Group by 118.1% during the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock valued at $88,381,000 after buying an additional 714,159 shares during the last quarter. Finally, Brookfield Asset Management Inc. grew its stake in shares of Simon Property Group by 28.4% during the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock valued at $505,406,000 after buying an additional 690,169 shares during the last quarter. 95.24% of the stock is currently owned by institutional investors.

Simon Property Group, Inc. (NYSE SPG) traded down $0.12 during trading on Wednesday, reaching $159.03. The company’s stock had a trading volume of 548,359 shares, compared to its average volume of 1,824,576. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $101,729.83, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.15 and a beta of 0.60. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $188.10.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.01. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. Simon Property Group’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.70 earnings per share. research analysts anticipate that Simon Property Group, Inc. will post 11.2 earnings per share for the current year.

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a yield of 4.65%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is currently 130.51%.

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A number of research analysts have recently commented on SPG shares. SunTrust Banks, Inc. set a $170.00 target price on Simon Property Group and gave the company a “hold” rating in a research note on Sunday, October 29th. Stifel Nicolaus reaffirmed a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a research note on Thursday, October 12th. Argus cut their target price on Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $176.00 target price on shares of Simon Property Group in a research note on Thursday, November 2nd. Finally, Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $191.45.

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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