Pacer Advisors Inc. Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Pacer Advisors Inc. lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 42.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,466 shares of the real estate investment trust’s stock after buying an additional 9,737 shares during the quarter. Pacer Advisors Inc.’s holdings in Simon Property Group were worth $5,591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the third quarter valued at $30,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $42,000. Eastern Bank purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Simon Property Group by 107.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $173.86 on Thursday. The stock has a market capitalization of $56.73 billion, a P/E ratio of 23.15, a P/E/G ratio of 9.26 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The firm’s 50-day moving average is $176.49 and its two-hundred day moving average is $169.30.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 EPS. Equities analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.83%. Simon Property Group’s dividend payout ratio is 111.85%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $172.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.