Sustainable Insight Capital Management LLC Takes $473,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Sustainable Insight Capital Management LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,749 shares of the real estate investment trust’s stock, valued at approximately $473,000.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Simon Property Group in the second quarter valued at approximately $364,000. Gabelli Funds LLC grew its stake in Simon Property Group by 25.0% in the 2nd quarter. Gabelli Funds LLC now owns 7,500 shares of the real estate investment trust’s stock valued at $1,138,000 after purchasing an additional 1,500 shares during the period. Evergreen Capital Management LLC increased its position in shares of Simon Property Group by 9.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,074 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 181 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Simon Property Group by 59.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,414 shares of the real estate investment trust’s stock worth $9,474,000 after purchasing an additional 23,341 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in shares of Simon Property Group by 3.4% in the 2nd quarter. Fred Alger Management LLC now owns 29,659 shares of the real estate investment trust’s stock worth $4,502,000 after buying an additional 986 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPG shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Stock Up 1.2 %

SPG opened at $174.94 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The business’s fifty day simple moving average is $176.87 and its 200 day simple moving average is $168.40. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The stock has a market cap of $57.08 billion, a PE ratio of 23.29, a P/E/G ratio of 9.26 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.20 earnings per share. As a group, research analysts expect that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.