Vident Investment Advisory LLC grew its holdings in Simon Property Group Inc (NYSE:SPG) by 109.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,590 shares of the real estate investment trust’s stock after acquiring an additional 5,002 shares during the period. Vident Investment Advisory LLC’s holdings in Simon Property Group were worth $1,632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPG. Kaizen Advisory LLC raised its position in Simon Property Group by 138.1% in the second quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 413 shares during the period. Peapack Gladstone Financial Corp bought a new position in Simon Property Group in the second quarter worth approximately $203,000. Cumberland Partners Ltd bought a new position in Simon Property Group in the second quarter worth approximately $204,000. Murphy Capital Management Inc. bought a new position in Simon Property Group in the second quarter worth approximately $205,000. Finally, Pitcairn Co. bought a new position in Simon Property Group in the second quarter worth approximately $213,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

In other Simon Property Group news, CAO Steven K. Broadwater sold 859 shares of Simon Property Group stock in a transaction on Friday, June 29th. The shares were sold at an average price of $170.28, for a total value of $146,270.52. Following the completion of the transaction, the chief accounting officer now directly owns 1,734 shares of the company’s stock, valued at approximately $295,265.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Rulli sold 1,330 shares of Simon Property Group stock in a transaction on Monday, August 6th. The stock was sold at an average price of $177.05, for a total transaction of $235,476.50. The disclosure for this sale can be found here. Company insiders own 8.64% of the company’s stock.

Several research firms have weighed in on SPG. ValuEngine upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. Barclays increased their price objective on shares of Simon Property Group from $184.00 to $192.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 17th. BMO Capital Markets reissued a “buy” rating and issued a $175.00 price objective on shares of Simon Property Group in a research note on Monday, July 30th. Jefferies Financial Group reissued a “$170.72” rating and issued a $194.00 price objective on shares of Simon Property Group in a research note on Wednesday, July 18th. Finally, Bank of America increased their price objective on shares of Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $189.29.

SPG opened at $182.50 on Monday. The firm has a market cap of $59.24 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.54 and a beta of 0.52. Simon Property Group Inc has a fifty-two week low of $145.78 and a fifty-two week high of $186.03. The company has a debt-to-equity ratio of 6.13, a current ratio of 1.13 and a quick ratio of 1.13.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.13. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a net margin of 40.11% and a return on equity of 55.59%. Simon Property Group’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. research analysts predict that Simon Property Group Inc will post 12.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 4.38%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.94. The ex-dividend date was Thursday, August 16th. Simon Property Group’s dividend payout ratio (DPR) is presently 71.36%.

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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