Sheaff Brock Investment Advisors LLC Purchases 226 Shares of Simon Property Group Inc (NYSE:SPG)

Sheaff Brock Investment Advisors LLC raised its position in shares of Simon Property Group Inc (NYSE:SPG) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,564 shares of the real estate investment trust’s stock after acquiring an additional 226 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Simon Property Group were worth $729,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SPG. Northern Trust Corp boosted its stake in shares of Simon Property Group by 2.6% in the first quarter. Northern Trust Corp now owns 5,944,106 shares of the real estate investment trust’s stock valued at $1,083,076,000 after buying an additional 149,589 shares during the period. Geode Capital Management LLC boosted its stake in shares of Simon Property Group by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock valued at $790,441,000 after buying an additional 507,345 shares during the period. Nordea Investment Management AB boosted its stake in shares of Simon Property Group by 4.0% in the first quarter. Nordea Investment Management AB now owns 2,117,655 shares of the real estate investment trust’s stock valued at $385,853,000 after buying an additional 80,473 shares during the period. California Public Employees Retirement System boosted its stake in shares of Simon Property Group by 15.4% in the first quarter. California Public Employees Retirement System now owns 1,679,538 shares of the real estate investment trust’s stock valued at $306,029,000 after buying an additional 224,701 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Simon Property Group by 11.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,476,322 shares of the real estate investment trust’s stock valued at $235,857,000 after buying an additional 146,188 shares during the period. Institutional investors own 95.20% of the company’s stock.

Several equities research analysts recently issued reports on SPG shares. Morgan Stanley cut their price target on Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. Citigroup cut their price target on Simon Property Group from $192.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Deutsche Bank cut their price target on Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. Barclays reiterated a “buy” rating and issued a $202.00 price target on shares of Simon Property Group in a research note on Tuesday, April 16th. Finally, ValuEngine cut Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $190.62.



NYSE SPG traded down $3.72 on Wednesday, hitting $151.64. 44,926 shares of the company’s stock were exchanged, compared to its average volume of 1,435,514. The business has a 50-day moving average price of $159.46. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.02. Simon Property Group Inc has a 52 week low of $150.80 and a 52 week high of $191.49. The company has a market cap of $47.87 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52.

Simon Property Group (NYSE:SPG) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.01. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company earned $2.98 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts anticipate that Simon Property Group Inc will post 12.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $2.10 per share. The ex-dividend date is Thursday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 5.54%. Simon Property Group’s dividend payout ratio is presently 67.60%.

In other Simon Property Group news, insider John Rulli sold 9,160 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the sale, the insider now directly owns 29,646 shares in the company, valued at $5,222,735.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.75% of the stock is owned by corporate insiders.

Simon Property Group Profile

Simon is a global leader 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.

Further Reading: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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