Hudson Edge Investment Partners Inc. Sells 1,254 Shares of Simon Property Group, Inc. (NYSE:SPG)

Hudson Edge Investment Partners Inc. trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,101 shares of the real estate investment trust’s stock after selling 1,254 shares during the quarter. Simon Property Group comprises 1.3% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 9th biggest holding. Hudson Edge Investment Partners Inc.’s holdings in Simon Property Group were worth $6,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares during the period. Norges Bank purchased a new position in Simon Property Group during the 4th quarter worth $2,561,181,000. Boston Partners lifted its stake in shares of Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after acquiring an additional 92,648 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Simon Property Group by 4.5% in the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares in the last quarter. Finally, PGGM Investments increased its stake in shares of Simon Property Group by 1.9% during the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after acquiring an additional 23,186 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 486 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SPG. Mizuho raised their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Evercore ISI raised their price target on Simon Property Group from $157.00 to $160.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Argus raised their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Scotiabank upped their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $161.28.

Simon Property Group Price Performance

Shares of SPG stock traded up $0.32 during mid-day trading on Friday, reaching $164.50. The stock had a trading volume of 1,443,684 shares, compared to its average volume of 1,232,583. The company has a market cap of $53.62 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 9.05 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. The business has a 50-day simple moving average of $155.87 and a 200 day simple moving average of $151.15.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $2.88 earnings per share. Simon Property Group’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.98%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

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.