Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Shell Asset Management Co.

Shell Asset Management Co. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 36.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,241 shares of the real estate investment trust’s stock after purchasing an additional 868 shares during the quarter. Shell Asset Management Co.’s holdings in Simon Property Group were worth $507,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $2,561,181,000. International Assets Investment Management LLC raised its stake in shares of Simon Property Group by 13,226.4% during the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after purchasing an additional 913,678 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Simon Property Group by 11,722.9% during the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after purchasing an additional 667,034 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after acquiring an additional 469,855 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.9 %

Simon Property Group stock traded up $2.81 during midday trading on Friday, hitting $152.12. 177,703 shares of the company were exchanged, compared to its average volume of 1,469,131. The company’s fifty day moving average price is $149.59 and its 200-day moving average price is $147.67. The company has a market cap of $49.58 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 8.71 and a beta of 1.75. 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 fifty-two week low of $102.11 and a fifty-two week high of $158.50.

Simon Property Group (NYSE:SPG) last released its quarterly 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.74 earnings per share. On average, research analysts predict that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.26%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. Simon Property Group’s dividend payout ratio is presently 101.91%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction 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 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.