Janney Montgomery Scott LLC reduced its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 27.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,505 shares of the real estate investment trust’s stock after selling 2,856 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Simon Property Group were worth $1,208,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 7 shares in the last quarter. WFG Advisors LP lifted its stake in shares of Simon Property Group by 1.3% during the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 23 shares in the last quarter. South Texas Money Management Ltd. lifted its stake in shares of Simon Property Group by 1.7% during the 2nd quarter. South Texas Money Management Ltd. now owns 2,760 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 45 shares in the last quarter. Boston Private Wealth LLC lifted its stake in shares of Simon Property Group by 5.3% during the 2nd quarter. Boston Private Wealth LLC now owns 1,261 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 63 shares in the last quarter. Finally, Segment Wealth Management LLC lifted its stake in shares of Simon Property Group by 3.5% during the 2nd quarter. Segment Wealth Management LLC now owns 2,405 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 82 shares in the last quarter. Institutional investors own 47.38% of the company’s stock.

SPG has been the topic of a number of recent research reports. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. BMO Capital Markets initiated coverage on shares of Simon Property Group in a research note on Monday, September 11th. They set an “outperform” rating and a $175.00 price target on the stock. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Stifel Nicolaus restated a “hold” rating and set a $170.00 price target on shares of Simon Property Group in a research note on Thursday, October 12th. Finally, Jefferies Group restated a “buy” rating and set a $200.00 price target (up from $198.00) on shares of Simon Property Group in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $191.11.

Simon Property Group Inc (SPG) opened at $163.98 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group Inc has a twelve month low of $150.15 and a twelve month high of $188.10. The company has a market cap of $107,750.06, a price-to-earnings ratio of 15.30, a P/E/G ratio of 2.28 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm earned $2.70 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. research analysts forecast that Simon Property Group Inc will post 11.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were given a dividend of $1.85 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is 130.51%.

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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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