Simon Property Group, Inc. (NYSE:SPG) Holdings Raised by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,331 shares of the real estate investment trust’s stock after purchasing an additional 630 shares during the quarter. GAMMA Investing LLC’s holdings in Simon Property Group were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPG. TD Asset Management Inc raised its holdings in shares of Simon Property Group by 1.4% during the second quarter. TD Asset Management Inc now owns 124,335 shares of the real estate investment trust’s stock valued at $18,874,000 after acquiring an additional 1,692 shares during the period. Arizona State Retirement System grew its position in Simon Property Group by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 94,477 shares of the real estate investment trust’s stock worth $14,342,000 after purchasing an additional 856 shares in the last quarter. New York Life Investment Management LLC raised its stake in Simon Property Group by 1.0% during the 2nd quarter. New York Life Investment Management LLC now owns 49,549 shares of the real estate investment trust’s stock valued at $7,522,000 after purchasing an additional 484 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Simon Property Group by 34.3% in the second quarter. Private Advisor Group LLC now owns 31,862 shares of the real estate investment trust’s stock valued at $4,837,000 after purchasing an additional 8,132 shares in the last quarter. Finally, Candriam S.C.A. boosted its position in shares of Simon Property Group by 238.7% in the second quarter. Candriam S.C.A. now owns 70,673 shares of the real estate investment trust’s stock worth $10,728,000 after buying an additional 49,806 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $176.07 on Friday. The company has a market capitalization of $57.45 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 10.50 and a beta of 1.75. The firm has a 50 day moving average of $177.07 and a two-hundred day moving average of $165.93. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $3.20 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.77%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 111.85%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPG. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. 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 report on Thursday, September 12th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday. Finally, Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $172.10.

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.