Aviance Capital Management LLC bought a new position in shares of Simon Property Group Inc (NYSE:SPG) in the 4th quarter, Holdings Channel reports. The fund bought 98,251 shares of the real estate investment trust’s stock, valued at approximately $16,874,000. Simon Property Group makes up 1.2% of Aviance Capital Management LLC’s portfolio, making the stock its 20th biggest position.

Several other hedge funds also recently made changes to their positions in the stock. Artisan Partners Limited Partnership acquired a new stake in Simon Property Group in the 3rd quarter worth about $41,999,000. Milestone Group Inc. raised its stake in Simon Property Group by 75.1% in the 3rd quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock worth $375,000 after purchasing an additional 1,000 shares in the last quarter. Advantus Capital Management Inc raised its stake in Simon Property Group by 1.6% in the 3rd quarter. Advantus Capital Management Inc now owns 470,137 shares of the real estate investment trust’s stock worth $75,697,000 after purchasing an additional 7,344 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in Simon Property Group by 28.4% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after purchasing an additional 690,169 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Simon Property Group by 7.6% in the 3rd quarter. Prudential Financial Inc. now owns 1,328,200 shares of the real estate investment trust’s stock worth $213,854,000 after purchasing an additional 93,899 shares in the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

SPG has been the subject of several analyst reports. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Monday, October 30th. 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. Barclays reiterated a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research note on Wednesday, January 31st. Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Sunday, December 3rd. Finally, SunTrust Banks set a $170.00 price objective on shares of Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, October 29th. 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 company. The company has an average rating of “Buy” and an average target price of $191.11.

In related news, SVP Steven K. Broadwater sold 621 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.42% of the stock is owned by corporate insiders.

Simon Property Group Inc (NYSE SPG) opened at $155.49 on Wednesday. The stock has a market cap of $49,600.00, a P/E ratio of 24.92, a P/E/G ratio of 2.00 and a beta of 0.55. Simon Property Group Inc has a 12-month low of $150.15 and a 12-month high of $187.35. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 5.87.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.12. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. analysts anticipate that Simon Property Group Inc will post 12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 5.02%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend is Tuesday, February 13th. Simon Property Group’s dividend payout ratio is currently 118.59%.

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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.

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

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