Doliver Advisors LP Buys New Holdings in Simon Property Group Inc (NYSE:SPG)

Doliver Advisors LP bought a new stake in Simon Property Group Inc (NYSE:SPG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,713 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Other institutional investors have also recently modified their holdings of the company. Ashburton Jersey Ltd acquired a new position in Simon Property Group in the second quarter valued at $25,000. Griffin Asset Management Inc. purchased a new position in Simon Property Group in the second quarter valued at about $26,000. Stonebridge Capital Advisors LLC purchased a new position in Simon Property Group in the second quarter valued at about $30,000. Weaver Consulting Group purchased a new position in Simon Property Group in the second quarter valued at about $32,000. Finally, Creative Financial Designs Inc. ADV raised its position in Simon Property Group by 59.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 259 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 95.57% of the company’s stock.

Several research firms have commented on SPG. Raymond James reissued an “outperform” rating on shares of Simon Property Group in a research report on Tuesday. ValuEngine raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. SunTrust Banks cut their price objective 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. Morgan Stanley cut their price objective 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. Finally, Citigroup lowered Simon Property Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $187.00 to $170.00 in a research report on Monday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $187.10.

Shares of NYSE SPG opened at $154.49 on Friday. Simon Property Group Inc has a 1 year low of $145.28 and a 1 year high of $191.49. The firm has a market cap of $48.18 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.94 and a beta of 0.52. The company has a debt-to-equity ratio of 8.77, a quick ratio of 0.99 and a current ratio of 3.34. The stock’s 50-day simple moving average is $152.39 and its 200-day simple moving average is $159.51.

Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.05 by ($1.28). Simon Property Group had a return on equity of 66.93% and a net margin of 40.23%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. As a group, research analysts predict that Simon Property Group Inc will post 12.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Thursday, November 14th. Simon Property Group’s payout ratio is 69.25%.

About Simon Property Group

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.

Further Reading: Gap Down Stocks

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.