Simon Property Group Inc (SPG) Shares Sold by American Investment Services Inc.

American Investment Services Inc. trimmed its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 24.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,036 shares of the real estate investment trust’s stock after selling 1,936 shares during the period. American Investment Services Inc.’s holdings in Simon Property Group were worth $1,037,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. RFG Advisory Group LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $200,000. First Allied Advisory Services Inc. increased its position in shares of Simon Property Group by 88.9% during the fourth quarter. First Allied Advisory Services Inc. now owns 5,981 shares of the real estate investment trust’s stock worth $1,032,000 after purchasing an additional 2,815 shares in the last quarter. MUFG Americas Holdings Corp increased its position in shares of Simon Property Group by 21.0% during the fourth quarter. MUFG Americas Holdings Corp now owns 5,989 shares of the real estate investment trust’s stock worth $1,029,000 after purchasing an additional 1,039 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Simon Property Group by 822.4% during the fourth quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Simon Property Group by 13.5% during the fourth quarter. Toronto Dominion Bank now owns 133,894 shares of the real estate investment trust’s stock worth $22,995,000 after purchasing an additional 15,930 shares in the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

Shares of Simon Property Group Inc (SPG) opened at $154.09 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.75 and a debt-to-equity ratio of 5.87. The stock has a market capitalization of $99,477.84, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55. Simon Property Group Inc has a twelve month low of $150.15 and a twelve month high of $187.35.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.12. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. equities research analysts anticipate that Simon Property Group Inc will post 12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 annualized dividend and a yield of 5.06%. The ex-dividend date is Tuesday, February 13th. Simon Property Group’s dividend payout ratio is presently 124.80%.

SPG has been the subject of several research reports. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Barclays reiterated a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a research report on Wednesday, January 31st. Raymond James Financial set a $185.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, December 3rd. Finally, SunTrust Banks set a $170.00 price target on Simon Property Group and gave the stock a “hold” rating in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $191.11.

In other Simon Property Group news, SVP Steven K. Broadwater sold 621 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.42% of the stock is owned by corporate insiders.

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Simon Property Group 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.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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