Hudson Valley Investment Advisors Inc. ADV Invests $221,000 in Simon Property Group, Inc. (NYSE:SPG)

Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,550 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. Norges Bank bought a new stake in Simon Property Group in the 4th quarter valued at $2,561,181,000. International Assets Investment Management LLC grew its holdings in Simon Property Group by 13,226.4% in the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after buying an additional 913,678 shares in the last quarter. Vanguard Group Inc. grew its holdings in Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Simon Property Group by 11,722.9% in the 4th quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after buying an additional 667,034 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its holdings in Simon Property Group by 160.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock valued at $108,887,000 after buying an additional 469,855 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock traded down $3.02 on Monday, hitting $148.05. 2,048,371 shares of the company’s stock were exchanged, compared to its average volume of 1,471,201. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $158.50. The stock has a market cap of $48.26 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 8.78 and a beta of 1.75. The company has a 50 day moving average of $150.32 and a 200 day moving average of $148.08.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. Simon Property Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.74 earnings per share. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 5.54%. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SPG shares. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Scotiabank upped their price objective on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Finally, Argus increased their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Simon Property Group has an average rating of “Moderate Buy” and an average target price of $149.89.

Simon Property Group Company Profile

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.