Quadrature Capital Ltd Acquires 5,635 Shares of Simon Property Group, Inc. (NYSE:SPG)

Quadrature Capital Ltd raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 58.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,242 shares of the real estate investment trust’s stock after purchasing an additional 5,635 shares during the quarter. Quadrature Capital Ltd’s holdings in Simon Property Group were worth $2,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPG. Clearstead Trust LLC bought a new stake in shares of Simon Property Group in the first quarter valued at about $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the first quarter valued at about $26,000. Cape Investment Advisory Inc. raised its holdings in shares of Simon Property Group by 3,200.0% in the fourth 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. Hillsdale Investment Management Inc. bought a new stake in shares of Simon Property Group in the first quarter valued at about $33,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $34,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPG. Argus lifted 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. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Scotiabank boosted their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 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, for a total transaction of $72,982.62. Following the completion of 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 available at this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 2.1 %

Shares of SPG stock traded up $3.14 during trading hours on Friday, reaching $152.45. 1,032,436 shares of the company’s stock were exchanged, compared to its average volume of 1,326,743. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $158.50. The stock has a market cap of $49.69 billion, a PE ratio of 19.42, a PEG ratio of 8.86 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 fifty day moving average price is $149.67 and its two-hundred day moving average price is $147.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm posted $2.74 EPS. Simon Property Group’s revenue was up 6.8% on a year-over-year basis. Research analysts predict 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. Stockholders of record on Friday, June 7th were paid a dividend of $2.00 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. 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 5.25%. Simon Property Group’s payout ratio is presently 101.91%.

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.