Neuburgh Advisers LLC lifted its position in shares of Simon Property Group Inc (NYSE:SPG) by 59.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,552 shares of the real estate investment trust’s stock after acquiring an additional 3,552 shares during the period. Neuburgh Advisers LLC’s holdings in Simon Property Group were worth $1,741,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in Simon Property Group by 58.7% in the fourth quarter. Advisors Asset Management Inc. now owns 18,243 shares of the real estate investment trust’s stock valued at $3,065,000 after purchasing an additional 6,751 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Simon Property Group by 24.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,911 shares of the real estate investment trust’s stock valued at $993,000 after purchasing an additional 1,148 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in Simon Property Group in the fourth quarter valued at approximately $25,000. Chicago Equity Partners LLC lifted its stake in Simon Property Group by 72.9% in the fourth quarter. Chicago Equity Partners LLC now owns 3,415 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Simon Property Group by 3.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,080 shares of the real estate investment trust’s stock valued at $685,000 after purchasing an additional 153 shares during the last quarter. 95.73% of the stock is owned by institutional investors.
In related news, insider John Rulli sold 9,160 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total value of $1,613,717.20. Following the transaction, the insider now owns 29,646 shares of the company’s stock, valued at $5,222,735.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.75% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on SPG shares. Mizuho downgraded Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 target price on the stock. in a research report on Friday, February 15th. JPMorgan Chase & Co. dropped their target price on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. Deutsche Bank dropped their target price on Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Barclays restated a “buy” rating and set a $202.00 target price on shares of Simon Property Group in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $192.00.
SPG opened at $163.82 on Friday. The firm has a market capitalization of $50.62 billion, a P/E ratio of 13.51, a PEG ratio of 2.95 and a beta of 0.56. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.34. Simon Property Group Inc has a 52 week low of $159.69 and a 52 week high of $191.49.
Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.02. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 earnings per share. As a group, sell-side analysts anticipate that Simon Property Group Inc will post 12.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $2.05 dividend. The ex-dividend date was Thursday, May 16th. This represents a $8.20 dividend on an annualized basis and a yield of 5.01%. Simon Property Group’s dividend payout ratio is presently 67.60%.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by Modern Readers and is the property of of Modern Readers. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.modernreaders.com/news/2019/06/14/neuburgh-advisers-llc-has-1-74-million-position-in-simon-property-group-inc-nysespg.html.
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: What are earnings reports?
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).
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.