Great Valley Advisor Group Inc. Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Great Valley Advisor Group Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,390 shares of the real estate investment trust’s stock after purchasing an additional 1,435 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Simon Property Group were worth $4,460,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its holdings in shares of Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares during the period. International Assets Investment Management LLC increased its position in Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after buying an additional 887,356 shares in the last quarter. Mizuho Securities USA LLC increased its position in Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after buying an additional 633,072 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after acquiring an additional 421,560 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Simon Property Group by 250.7% in the third quarter. KBC Group NV now owns 325,704 shares of the real estate investment trust’s stock valued at $55,051,000 after acquiring an additional 232,840 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $181.14 on Friday. The business’s 50-day simple moving average is $172.55 and its 200-day simple moving average is $160.16. The firm has a market capitalization of $59.10 billion, a P/E ratio of 24.12, a P/E/G ratio of 10.61 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $183.96. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $3.20 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts predict that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is currently 109.19%.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Mizuho upped their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Scotiabank raised their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target 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.