Sheaff Brock Investment Advisors LLC Holds Stake in Simon Property Group, Inc. (SPG)

Sheaff Brock Investment Advisors LLC held its position in Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,638 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Sheaff Brock Investment Advisors LLC’s holdings in Simon Property Group were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Logan Capital Management Inc. raised its holdings in shares of Simon Property Group by 0.6% during the first quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 15 shares during the last quarter. Whitnell & Co. raised its holdings in shares of Simon Property Group by 0.4% during the second quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock valued at $868,000 after buying an additional 21 shares during the last quarter. Guardian Life Insurance Co. of America raised its holdings in shares of Simon Property Group by 2.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 31 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Simon Property Group by 1.1% during the second quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock valued at $620,000 after buying an additional 40 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Simon Property Group by 2.6% during the second quarter. Stratos Wealth Partners LTD. now owns 1,760 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 45 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Simon Property Group, Inc. (SPG) opened at 160.32 on Tuesday. The firm has a 50-day moving average of $159.55 and a 200 day moving average of $163.49. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $215.56. The firm has a market cap of $49.83 billion, a price-to-earnings ratio of 28.57 and a beta of 0.58.

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, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $2.63 earnings per share. Simon Property Group’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post $6.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a $1.80 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a yield of 4.49%. The ex-dividend date was Tuesday, August 15th. Simon Property Group’s dividend payout ratio is currently 127.89%.

SPG has been the topic of a number of recent analyst reports. Mizuho raised Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target on the stock in a report on Tuesday, May 30th. Stifel Nicolaus started coverage on shares of Simon Property Group in a research note on Friday, July 14th. They set a “hold” rating and a $170.00 price objective on the stock. Zacks Investment Research lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC raised their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $193.76.

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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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