Los Angeles Capital Management LLC Buys 6,271 Shares of Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC raised its stake in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,980 shares of the real estate investment trust’s stock after purchasing an additional 6,271 shares during the period. Los Angeles Capital Management LLC owned 0.06% of Simon Property Group worth $26,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arete Wealth Advisors LLC boosted its holdings in Simon Property Group by 6.9% in the first quarter. Arete Wealth Advisors LLC now owns 2,290 shares of the real estate investment trust’s stock worth $301,000 after acquiring an additional 147 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Simon Property Group by 3.2% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 17,925 shares of the real estate investment trust’s stock worth $2,359,000 after purchasing an additional 560 shares during the period. Soltis Investment Advisors LLC lifted its holdings in shares of Simon Property Group by 25.5% in 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 in the last quarter. AIA Group Ltd grew its position in Simon Property Group by 485.7% in the 1st quarter. AIA Group Ltd now owns 10,964 shares of the real estate investment trust’s stock valued at $1,442,000 after purchasing an additional 9,092 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Simon Property Group by 7.3% during the 1st quarter. CIBC Asset Management Inc now owns 33,792 shares of the real estate investment trust’s stock valued at $4,446,000 after purchasing an additional 2,303 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

Simon Property Group Stock Up 0.6 %

SPG opened at $106.50 on Friday. The company’s 50-day moving average price is $101.77 and its two-hundred day moving average price is $120.94. 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 twelve month low of $93.06 and a twelve month high of $171.12. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 2.51 and a beta of 1.49.

Simon Property Group (NYSE:SPGGet Rating) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. Simon Property Group’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.92 earnings per share. As a group, equities analysts expect that Simon Property Group, Inc. will post 11.7 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Thursday, September 8th. This is an increase 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 dividend payout ratio is 106.08%.

Analyst Ratings Changes

SPG has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Simon Property Group from $180.00 to $165.00 in a research note on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft cut their price target on Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. Compass Point dropped their target price on Simon Property Group from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Jefferies Financial Group downgraded Simon Property Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $160.00 to $100.00 in a report on Thursday, June 30th. Finally, UBS Group raised their price objective on Simon Property Group from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.07.

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

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