Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Natixis

Natixis increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 33,365 shares of the real estate investment trust’s stock after acquiring an additional 4,319 shares during the period. Natixis’ holdings in Simon Property Group were worth $5,221,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. InterOcean Capital Group LLC acquired a new stake in Simon Property Group in the 1st quarter valued at about $219,000. Pitcairn Co. raised its position in Simon Property Group by 121.1% in the 1st quarter. Pitcairn Co. now owns 8,857 shares of the real estate investment trust’s stock valued at $1,386,000 after purchasing an additional 4,851 shares in the last quarter. National Bank of Canada FI raised its position in Simon Property Group by 121.6% in the 1st quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock valued at $67,758,000 after purchasing an additional 251,679 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Simon Property Group by 642.2% in the 1st quarter. Lake Street Advisors Group LLC now owns 19,594 shares of the real estate investment trust’s stock valued at $3,066,000 after purchasing an additional 16,954 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Simon Property Group by 1.5% in the 1st quarter. Bessemer Group Inc. now owns 879,942 shares of the real estate investment trust’s stock valued at $137,701,000 after purchasing an additional 13,021 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.9 %

NYSE:SPG opened at $150.69 on Friday. The firm has a market cap of $49.12 billion, a P/E ratio of 19.02, a PEG ratio of 8.71 and a beta of 1.75. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The stock’s 50 day simple moving average is $149.59 and its 200-day simple moving average is $147.67. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $158.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.31%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is presently 101.91%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group 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.