Burney Co. Has $4.11 Million Stake in Simon Property Group, Inc. $SPG

Burney Co. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1,036.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,572 shares of the real estate investment trust’s stock after purchasing an additional 23,321 shares during the period. Burney Co.’s holdings in Simon Property Group were worth $4,111,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock valued at $7,588,195,000 after purchasing an additional 267,503 shares during the period. Northern Trust Corp increased its holdings in shares of Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after purchasing an additional 96,126 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after purchasing an additional 141,657 shares during the period. Nuveen LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at about $724,937,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock valued at $608,086,000 after purchasing an additional 23,873 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of a number of research reports. Argus reiterated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Barclays boosted their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $187.31.

Simon Property Group Trading Up 0.6%

Shares of NYSE SPG opened at $176.83 on Tuesday. The stock has a market cap of $57.73 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 12.73 and a beta of 1.50. The business has a 50 day simple moving average of $180.20 and a 200 day simple moving average of $168.85. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.90 earnings per share. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $36,260.25. Following the completion of the transaction, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the transaction, the director directly owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 2,163 shares of company stock valued at $401,605. Insiders own 8.66% of the company’s stock.

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.