Great Lakes Advisors LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 43.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,213 shares of the real estate investment trust's stock after selling 12,206 shares during the period. Great Lakes Advisors LLC's holdings in Simon Property Group were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Stiles Financial Services Inc increased its position in Simon Property Group by 4.6% during the first quarter. Stiles Financial Services Inc now owns 2,234 shares of the real estate investment trust's stock worth $310,000 after buying an additional 98 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Simon Property Group by 3.2% during the first quarter. Los Angeles Capital Management LLC now owns 200,980 shares of the real estate investment trust's stock worth $26,441,000 after acquiring an additional 6,271 shares during the last quarter. Arete Wealth Advisors LLC increased its holdings in shares of Simon Property Group by 6.9% in the 1st quarter. Arete Wealth Advisors LLC now owns 2,290 shares of the real estate investment trust's stock valued at $301,000 after acquiring an additional 147 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in Simon Property Group by 3.2% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 17,925 shares of the real estate investment trust's stock valued at $2,359,000 after purchasing an additional 560 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in Simon Property Group by 25.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 22,516 shares of the real estate investment trust's stock worth $2,962,000 after purchasing an additional 4,568 shares during the period. Institutional investors and hedge funds own 91.62% of the company's stock.
Get Simon Property Group alerts:Analyst Upgrades and Downgrades
SPG has been the topic of a number of recent research reports. Compass Point dropped their price objective on shares of Simon Property Group from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, June 22nd. Morgan Stanley dropped their price target on Simon Property Group from $145.00 to $133.00 and set an "overweight" rating on the stock in a research report on Friday, July 15th. Mizuho decreased their price objective on Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a research report on Wednesday, August 3rd. UBS Group boosted their target price on Simon Property Group from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, August 2nd. Finally, Stifel Nicolaus cut their price target on Simon Property Group from $180.00 to $165.00 in a research note on Tuesday, May 10th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.07.
Simon Property Group Stock Performance
Shares of SPG opened at $106.50 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.02 and a debt-to-equity ratio of 7.13. Simon Property Group, Inc. has a 52-week low of $93.06 and a 52-week high of $171.12. The company has a 50-day simple moving average of $101.77 and a 200-day simple moving average of $120.56. The company has a market capitalization of $35.00 billion, a PE ratio of 16.61, a P/E/G ratio of 2.50 and a beta of 1.49.Simon Property Group (NYSE:SPG – Get Rating) last issued its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business posted $2.92 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts predict that Simon Property Group, Inc. will post 11.7 earnings per share for the current fiscal year.
Simon Property Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a dividend of $1.75 per share. The ex-dividend date is Thursday, September 8th. This is a boost from Simon Property Group's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 6.57%. Simon Property Group's payout ratio is currently 106.08%.
About Simon Property Group
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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.
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