IBM Retirement Fund trimmed its stake in Simon Property Group Inc (NYSE:SPG) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,049 shares of the real estate investment trust’s stock after selling 861 shares during the period. IBM Retirement Fund’s holdings in Simon Property Group were worth $892,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SPG. Kaizen Advisory LLC increased its position in shares of Simon Property Group by 138.1% in the second quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 413 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Simon Property Group in the third quarter worth approximately $156,000. Peapack Gladstone Financial Corp bought a new position in shares of Simon Property Group in the second quarter worth approximately $203,000. Cumberland Partners Ltd bought a new position in shares of Simon Property Group in the second quarter worth approximately $204,000. Finally, Murphy Capital Management Inc. bought a new position in shares of Simon Property Group in the second quarter worth approximately $205,000. Institutional investors own 92.93% of the company’s stock.

In other news, insider John Rulli sold 6,000 shares of the 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.64% of the company’s stock.

Several research firms recently weighed in on SPG. Mizuho restated a “buy” rating and issued a $188.00 price objective on shares of Simon Property Group in a research report on Wednesday, August 1st. Citigroup increased their price target on shares of Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. BMO Capital Markets reiterated a “buy” rating and set a $175.00 price target on shares of Simon Property Group in a research report on Monday, July 30th. Raymond James increased their price target on shares of Simon Property Group from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, October 29th. Finally, Wells Fargo & Co increased their price target on shares of Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $194.46.

NYSE:SPG opened at $188.86 on Wednesday. The company has a market cap of $60.21 billion, a PE ratio of 16.85, a P/E/G ratio of 2.56 and a beta of 0.40. Simon Property Group Inc has a fifty-two week low of $145.78 and a fifty-two week high of $191.16. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. Sell-side analysts anticipate that Simon Property Group Inc will post 12.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Thursday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is presently 71.36%.

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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.

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

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