Simon Property Group, Inc. (NYSE:SPG) Stock Position Increased by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 46,380,446 shares of the real estate investment trust’s stock after buying an additional 672,941 shares during the quarter. Vanguard Group Inc. owned approximately 0.14% of Simon Property Group worth $7,258,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $25,000. Cape Investment Advisory Inc. raised its position in shares of Simon Property Group by 3,200.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter worth $34,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in shares of Simon Property Group during the first quarter worth $41,000. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPG shares. Scotiabank boosted their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Argus lifted their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.89.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 0.2 %

NYSE SPG traded up $0.34 on Friday, reaching $153.45. The stock had a trading volume of 993,134 shares, compared to its average volume of 1,451,346. The business has a 50 day moving average price of $149.23 and a 200 day moving average price of $147.35. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $158.19. The company has a market capitalization of $50.02 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 9.12 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $2.74 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts forecast that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $2.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.21%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is 101.91%.

About Simon Property Group

Simon is a real estate investment trust engaged 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.