Worldquant Millennium Quantitative Strategies LLC Takes Position in Simon Property Group Inc (SPG)

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Worldquant Millennium Quantitative Strategies LLC acquired a new stake in Simon Property Group Inc (NYSE:SPG) during the 2nd quarter, Holdings Channel reports. The fund acquired 32,328 shares of the real estate investment trust’s stock, valued at approximately $5,502,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in Simon Property Group by 1.2% during the second quarter. BlackRock Inc. now owns 30,623,068 shares of the real estate investment trust’s stock worth $5,211,739,000 after purchasing an additional 350,087 shares during the period. FMR LLC increased its stake in Simon Property Group by 2.0% during the second quarter. FMR LLC now owns 6,470,355 shares of the real estate investment trust’s stock worth $1,101,190,000 after purchasing an additional 124,884 shares during the period. Principal Financial Group Inc. increased its stake in Simon Property Group by 3.1% during the first quarter. Principal Financial Group Inc. now owns 6,096,513 shares of the real estate investment trust’s stock worth $940,997,000 after purchasing an additional 185,668 shares during the period. Northern Trust Corp increased its stake in Simon Property Group by 6.3% during the first quarter. Northern Trust Corp now owns 5,638,329 shares of the real estate investment trust’s stock worth $870,277,000 after purchasing an additional 334,685 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Simon Property Group by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,598,802 shares of the real estate investment trust’s stock worth $782,676,000 after purchasing an additional 39,244 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

In other news, insider John Rulli sold 1,330 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $177.05, for a total transaction of $235,476.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Steven K. Broadwater sold 859 shares of the business’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $170.28, for a total value of $146,270.52. Following the transaction, the chief accounting officer now directly owns 1,734 shares of the company’s stock, valued at $295,265.52. The disclosure for this sale can be found here. Insiders own 8.64% of the company’s stock.

A number of analysts have issued reports on the stock. Bank of America boosted their price target on shares of Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Royal Bank of Canada boosted their price target on shares of Simon Property Group to $183.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 21st. Mizuho reiterated a “buy” rating and set a $188.00 price target on shares of Simon Property Group in a research note on Wednesday, August 1st. Citigroup boosted their price target on shares of Simon Property Group from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Finally, Wells Fargo & Co boosted their price target on shares of Simon Property Group from $175.00 to $183.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $189.29.

Shares of Simon Property Group stock opened at $182.50 on Friday. Simon Property Group Inc has a one year low of $145.78 and a one year high of $186.03. The stock has a market cap of $59.24 billion, a PE ratio of 15.59, a P/E/G ratio of 2.54 and a beta of 0.52. The company has a debt-to-equity ratio of 6.13, a current ratio of 1.13 and a quick ratio of 1.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.13. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. sell-side analysts predict that Simon Property Group Inc will post 12.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, August 16th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.94. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.38%. Simon Property Group’s payout ratio is currently 71.36%.

About Simon Property Group

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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Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

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

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