TD Asset Management Inc. Has $18.14 Million Stock Position in Simon Property Group Inc (NYSE:SPG)

TD Asset Management Inc. lifted its stake in Simon Property Group Inc (NYSE:SPG) by 20.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,545 shares of the real estate investment trust’s stock after acquiring an additional 19,078 shares during the quarter. TD Asset Management Inc.’s holdings in Simon Property Group were worth $18,140,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ashburton Jersey Ltd acquired a new stake in shares of Simon Property Group in the second quarter valued at about $25,000. Global Retirement Partners LLC increased its position in Simon Property Group by 150.0% during the first quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 99 shares during the last quarter. Marino Stram & Associates LLC acquired a new position in Simon Property Group during the first quarter worth approximately $32,000. Icon Wealth Partners LLC acquired a new position in Simon Property Group during the first quarter worth approximately $51,000. Finally, Trustcore Financial Services LLC acquired a new position in Simon Property Group during the first quarter worth approximately $59,000. 95.20% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group stock opened at $148.61 on Friday. Simon Property Group Inc has a 12 month low of $147.21 and a 12 month high of $191.49. The stock’s 50 day moving average is $158.75 and its 200-day moving average is $171.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.02. The company has a market capitalization of $46.86 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 2.77 and a beta of 0.52.

Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 EPS for the quarter, beating the consensus estimate of $2.98 by $0.01. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned $2.98 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts predict that Simon Property Group Inc will post 12.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Thursday, August 15th. This represents a $8.40 annualized dividend and a dividend yield of 5.65%. Simon Property Group’s dividend payout ratio is presently 67.60%.

A number of equities analysts have weighed in on the company. Citigroup lowered their price target on Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. ValuEngine downgraded Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Morgan Stanley lowered their price target on Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. Finally, Deutsche Bank lowered their price target on Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $190.62.

Simon Property Group Company Profile

Simon is a global leader 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.

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

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