Altfest L J & Co. Inc. Purchases New Position in Simon Property Group, Inc. (SPG)

Altfest L J & Co. Inc. bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,456 shares of the real estate investment trust’s stock, valued at approximately $721,000.

Several other institutional investors have also made changes to their positions in the stock. Gradient Investments LLC raised its stake in shares of Simon Property Group by 21.1% in the first quarter. Gradient Investments LLC now owns 31,876 shares of the real estate investment trust’s stock valued at $5,484,000 after buying an additional 5,560 shares during the last quarter. National Pension Service raised its stake in shares of Simon Property Group by 8.3% in the first quarter. National Pension Service now owns 234,449 shares of the real estate investment trust’s stock valued at $39,866,000 after buying an additional 17,880 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Simon Property Group by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 97,997 shares of the real estate investment trust’s stock valued at $16,858,000 after buying an additional 1,720 shares during the last quarter. West Oak Capital LLC raised its stake in shares of Simon Property Group by 15.6% in the first quarter. West Oak Capital LLC now owns 1,405 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 190 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of Simon Property Group by 5.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 276,424 shares of the real estate investment trust’s stock valued at $47,553,000 after buying an additional 13,133 shares during the last quarter. 95.77% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group, Inc. (SPG) traded down 2.30% during trading on Friday, hitting $153.58. The stock had a trading volume of 2,131,492 shares. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $219.41. The firm has a market cap of $47.74 billion, a PE ratio of 27.37 and a beta of 0.58. The company’s 50-day moving average is $160.22 and its 200 day moving average is $166.37.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. Simon Property Group’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.63 EPS. Equities analysts expect that Simon Property Group, Inc. will post $6.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s payout ratio is presently 127.89%.

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Several equities research analysts recently commented on SPG shares. Mizuho upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price objective on the stock in a research report on Tuesday, May 30th. Stifel Nicolaus started coverage on shares of Simon Property Group in a report on Friday, July 14th. They issued a “hold” rating and a $170.00 target price on the stock. Zacks Investment Research lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barclays PLC upped their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Simon Property Group has an average rating of “Hold” and an average target price of $195.01.

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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