Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 69.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,700 shares of the real estate investment trust’s stock after selling 71,502 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Simon Property Group were worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Clearstead Trust LLC purchased a new position in Simon Property Group during the first quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in Simon Property Group during the second quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new position in Simon Property Group during the second quarter worth about $27,000. Finally, Pathway Financial Advisers LLC purchased a new position in Simon Property Group during the first quarter worth about $29,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 0.7 %

Shares of SPG stock opened at $169.58 on Friday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $55.29 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 9.23 and a beta of 1.74. The company has a 50 day moving average price of $162.34 and a 200 day moving average price of $153.37. Simon Property Group, Inc. has a fifty-two week low of $102.82 and a fifty-two week high of $170.87.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. Equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is 104.46%.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPG shares. Argus boosted their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Mizuho boosted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Scotiabank boosted their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.