Simon Property Group Inc (NYSE:SPG) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lessened its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,318 shares of the real estate investment trust’s stock after selling 150 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Simon Property Group were worth $370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its position in shares of Simon Property Group by 1.1% during the 2nd quarter. Northern Trust Corp now owns 6,008,760 shares of the real estate investment trust’s stock worth $959,960,000 after acquiring an additional 64,654 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Simon Property Group by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,903,733 shares of the real estate investment trust’s stock worth $623,661,000 after acquiring an additional 33,585 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Simon Property Group by 2.8% during the 2nd quarter. Cohen & Steers Inc. now owns 2,304,811 shares of the real estate investment trust’s stock worth $368,217,000 after acquiring an additional 62,150 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Simon Property Group by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 2,117,655 shares of the real estate investment trust’s stock worth $385,853,000 after acquiring an additional 80,473 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Simon Property Group by 11.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,476,322 shares of the real estate investment trust’s stock worth $235,857,000 after buying an additional 146,188 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

SPG has been the topic of several research analyst reports. Deutsche Bank cut their price target on Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday, June 11th. Morgan Stanley cut their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. SunTrust Banks cut their price target on Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Finally, Citigroup cut their price target on Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Simon Property Group has an average rating of “Hold” and an average price target of $186.58.



Shares of SPG stock traded up $0.42 during midday trading on Friday, hitting $155.04. The company had a trading volume of 1,877,902 shares, compared to its average volume of 1,456,268. The company’s 50 day simple moving average is $152.07 and its 200 day simple moving average is $166.18. Simon Property Group Inc has a 52-week low of $145.42 and a 52-week high of $191.49. The stock has a market cap of $48.00 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 7.02, a current ratio of 0.99 and a quick ratio of 0.99.

Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share for the quarter, beating 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 company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $2.98 EPS. The company’s revenue was up .7% on a year-over-year basis. Analysts anticipate that Simon Property Group Inc will post 12.28 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend was Thursday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is 69.25%.

Simon Property Group Company 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.

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

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