Intech Investment Management LLC Has $1.64 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Intech Investment Management LLC lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 41.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,462 shares of the real estate investment trust’s stock after selling 7,501 shares during the period. Intech Investment Management LLC’s holdings in Simon Property Group were worth $1,637,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SPG. Clearstead Trust LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth about $25,000. Cape Investment Advisory Inc. raised its holdings in Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Simon Property Group in the 4th quarter valued at approximately $34,000. Indiana Trust & Investment Management CO acquired a new position in Simon Property Group in the 1st quarter valued at approximately $41,000. Finally, Rise Advisors LLC raised its holdings in Simon Property Group by 145.9% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Simon Property Group Price Performance

Shares of SPG traded up $0.34 during mid-day trading on Friday, reaching $153.45. The company had a trading volume of 993,134 shares, compared to its average volume of 1,451,346. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $158.19. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The company’s 50-day moving average is $149.23 and its 200-day moving average is $147.35. The company has a market capitalization of $50.02 billion, a P/E ratio of 19.55, a P/E/G ratio of 9.12 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued 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 return on equity of 78.50% and a net margin of 46.49%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.74 earnings per share. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a yield of 5.21%. Simon Property Group’s dividend payout ratio is 101.91%.

Insider Buying and Selling

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

About Simon Property Group

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.