Beacon Capital Management LLC Sells 95 Shares of Simon Property Group, Inc. (NYSE:SPG)

Beacon Capital Management LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 30.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 219 shares of the real estate investment trust’s stock after selling 95 shares during the quarter. Beacon Capital Management LLC’s holdings in Simon Property Group were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Simon Property Group by 1.5% in 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 last quarter. Norges Bank bought a new position in Simon Property Group in the 4th quarter worth about $2,561,181,000. Charles Schwab Investment Management Inc. increased its position in shares of Simon Property Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock worth $504,611,000 after acquiring an additional 72,645 shares during the period. Boston Partners increased its position in shares of Simon Property Group by 4.2% during the first 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. Finally, 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 purchasing an additional 78,866 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 2.6 %

NYSE SPG opened at $166.50 on Friday. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $166.96. The company has a 50 day moving average price of $152.28 and a 200 day moving average price of $149.76. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a market cap of $54.29 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 8.58 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for 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. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.92%. Simon Property Group’s payout ratio is presently 101.91%.

Wall Street Analyst Weigh In

Several research firms have commented on SPG. Evercore ISI raised their price objective 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. Stifel Nicolaus lifted their price objective on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Argus raised their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Scotiabank boosted their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $153.95.

About Simon Property Group

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.