Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,922 shares of the real estate investment trust’s stock after selling 264 shares during the period. Park Avenue Securities LLC’s holdings in Simon Property Group were worth $2,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SPG. Clearstead Trust LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth approximately $26,000. Cape Investment Advisory Inc. raised its holdings in shares of 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 worth $28,000 after purchasing an additional 192 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group during the first quarter valued at approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Simon Property Group during the second quarter valued at approximately $30,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 1.7 %

SPG stock traded down $2.63 during trading hours on Wednesday, hitting $152.91. The company’s stock had a trading volume of 1,568,791 shares, compared to its average volume of 1,471,929. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The company has a market capitalization of $49.84 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 8.78 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $158.50. The stock has a 50 day moving average price of $150.49 and a two-hundred day moving average price of $148.23.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 earnings per share. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio is currently 101.91%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Argus boosted their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday. Scotiabank boosted their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Evercore ISI upped their price objective on shares of Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.50.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 486 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by insiders.

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.