Simon Property Group, Inc. (NYSE:SPG) Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 17.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,444 shares of the real estate investment trust’s stock after selling 311 shares during the quarter. V Square Quantitative Management LLC’s holdings in Simon Property Group were worth $219,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SPG. Cerity Partners LLC increased its position in shares of Simon Property Group by 66.1% during the fourth quarter. Cerity Partners LLC now owns 11,939 shares of the real estate investment trust’s stock worth $1,703,000 after purchasing an additional 4,750 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $46,000. Simplicity Solutions LLC increased its position in shares of Simon Property Group by 6.1% during the fourth quarter. Simplicity Solutions LLC now owns 5,955 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 340 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Simon Property Group in the 4th quarter valued at $2,810,000. Finally, Carnegie Capital Asset Management LLC purchased a new stake in Simon Property Group in the 4th quarter valued at $222,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SPG. Stifel Nicolaus upped their target price on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Argus increased their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Scotiabank increased their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Finally, Evercore ISI increased their price target on Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $153.50.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $1.07 during trading on Wednesday, reaching $156.99. The company had a trading volume of 420,340 shares, compared to its average volume of 1,465,221. The firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 8.69 and a beta of 1.75. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s fifty day moving average price is $150.99 and its 200 day moving average price is $148.68. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $159.73.

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 analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 earnings per share. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $2.05 dividend. 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 5.22%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio is currently 101.91%.

Simon Property Group 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.