Simon Property Group Inc (SPG) Shares Sold by HL Financial Services LLC

HL Financial Services LLC decreased its position in shares of Simon Property Group Inc (NYSE:SPG) by 39.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,990 shares of the real estate investment trust’s stock after selling 1,292 shares during the period. HL Financial Services LLC’s holdings in Simon Property Group were worth $342,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Trust Advisors LP boosted its position in shares of Simon Property Group by 12.7% in the third quarter. First Trust Advisors LP now owns 268,091 shares of the real estate investment trust’s stock worth $55,498,000 after buying an additional 30,169 shares during the period. Quantitative Investment Management LLC boosted its position in shares of Simon Property Group by 27.9% in the third quarter. Quantitative Investment Management LLC now owns 41,700 shares of the real estate investment trust’s stock worth $8,632,000 after buying an additional 9,100 shares during the period. Arizona State Retirement System boosted its position in shares of Simon Property Group by 1.7% in the third quarter. Arizona State Retirement System now owns 97,558 shares of the real estate investment trust’s stock worth $20,195,000 after buying an additional 1,600 shares during the period. South Texas Money Management Ltd. boosted its position in shares of Simon Property Group by 3.1% in the third quarter. South Texas Money Management Ltd. now owns 2,948 shares of the real estate investment trust’s stock worth $610,000 after buying an additional 89 shares during the period. Finally, Aperio Group LLC boosted its position in shares of Simon Property Group by 5.0% in the third quarter. Aperio Group LLC now owns 136,782 shares of the real estate investment trust’s stock worth $28,315,000 after buying an additional 6,528 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

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

Shares of Simon Property Group Inc (NYSE:SPG) traded up 0.58% during mid-day trading on Thursday, hitting $160.70. 1,777,830 shares of the stock traded hands. The stock has a market cap of $50.17 billion, a PE ratio of 27.50 and a beta of 0.60. The stock has a 50-day moving average of $165.49 and a 200 day moving average of $175.79. Simon Property Group Inc has a one year low of $152.09 and a one year high of $229.10.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by $0.02. Simon Property Group had a return on equity of 39.00% and a net margin of 35.11%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $2.63 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts predict that Simon Property Group Inc will post $6.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, May 15th. Simon Property Group’s payout ratio is currently 119.25%.

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SPG has been the subject of a number of research reports. BTIG Research restated a “buy” rating and issued a $231.00 price objective on shares of Simon Property Group in a report on Wednesday, February 1st. Zacks Investment Research cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Monday, March 27th. Vetr upgraded shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective for the company in a report on Wednesday, April 26th. Goldman Sachs Group Inc cut shares of Simon Property Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $207.00 to $185.00 in a report on Friday, March 17th. Finally, Hilliard Lyons upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $197.00 price objective for the company in a report on Friday, March 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $212.55.

In related news, Director Reuben S. Leibowitz purchased 1,400 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The stock was acquired at an average price of $166.00 per share, with a total value of $232,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Company Profile

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.

12 Month Chart for NYSE:SPG

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