Valeo Financial Advisors LLC Takes $1.35 Million Position in Simon Property Group Inc (SPG)

Valeo Financial Advisors LLC purchased a new position in shares of Simon Property Group Inc (NYSE:SPG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,371 shares of the real estate investment trust’s stock, valued at approximately $1,348,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its position in Simon Property Group by 11.0% in the 2nd quarter. Global X Management Co. LLC now owns 3,397 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 336 shares in the last quarter. Wetherby Asset Management Inc. grew its position in Simon Property Group by 1.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,552 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 49 shares in the last quarter. First Trust Advisors LP grew its position in Simon Property Group by 1.8% in the 2nd quarter. First Trust Advisors LP now owns 217,607 shares of the real estate investment trust’s stock valued at $35,200,000 after buying an additional 3,796 shares in the last quarter. Sigma Planning Corp grew its position in Simon Property Group by 1.1% in the 2nd quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock valued at $620,000 after buying an additional 40 shares in the last quarter. Finally, IFC Holdings Incorporated FL bought a new position in Simon Property Group in the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 47.60% of the company’s stock.

Shares of Simon Property Group Inc (NYSE:SPG) traded up $0.18 during midday trading on Monday, reaching $162.25. 1,423,700 shares of the company’s stock were exchanged, compared to its average volume of 1,820,044. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group Inc has a 52 week low of $150.15 and a 52 week high of $188.10. The firm has a market cap of $103,802.69, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm earned $2.70 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. sell-side analysts anticipate that Simon Property Group Inc will post 11.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were paid a dividend of $1.85 per share. The ex-dividend date was Wednesday, November 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a yield of 4.56%. Simon Property Group’s dividend payout ratio is currently 130.51%.

SPG has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research report on Monday, October 30th. BMO Capital Markets initiated coverage on shares of Simon Property Group in a research report on Monday, September 11th. They issued an “outperform” rating and a $175.00 target price for the company. Argus cut their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Finally, Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $191.11.

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About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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

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