PGGM Investments Buys 23,186 Shares of Simon Property Group, Inc. (NYSE:SPG)

PGGM Investments increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,238,123 shares of the real estate investment trust’s stock after purchasing an additional 23,186 shares during the period. Simon Property Group accounts for 2.7% of PGGM Investments’ portfolio, making the stock its 8th largest position. PGGM Investments owned approximately 0.38% of Simon Property Group worth $187,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPG. ORG Partners LLC acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $436,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Simon Property Group by 11.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after purchasing an additional 3,626 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Simon Property Group by 5.4% during the second quarter. Wedmont Private Capital now owns 6,150 shares of the real estate investment trust’s stock valued at $919,000 after purchasing an additional 315 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Simon Property Group by 51.8% during the second quarter. Sequoia Financial Advisors LLC now owns 6,209 shares of the real estate investment trust’s stock valued at $943,000 after purchasing an additional 2,119 shares in the last quarter. Finally, Alpha Cubed Investments LLC lifted its holdings in Simon Property Group by 21.6% in the second quarter. Alpha Cubed Investments LLC now owns 3,945 shares of the real estate investment trust’s stock worth $599,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the firm’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 transaction, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Trading Up 0.6 %

SPG traded up $0.90 during trading on Wednesday, reaching $156.82. The company had a trading volume of 960,246 shares, compared to its average volume of 1,468,108. The firm’s 50-day simple moving average is $151.05 and its 200 day simple moving average is $148.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 8.69 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $159.73.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.23%. Simon Property Group’s payout ratio is currently 101.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Evercore ISI raised their price objective on shares of Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Argus boosted their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Scotiabank raised their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus upped their price target on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.50.

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.