Simon Property Group, Inc. (NYSE:SPG) Stake Boosted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,040 shares of the real estate investment trust’s stock after buying an additional 36,898 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Simon Property Group were worth $31,349,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the third quarter valued at $834,000. First Hawaiian Bank increased its holdings in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares during the period. Red Cedar Investment Management LLC lifted its position in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares in the last quarter. TTP Investments Inc. boosted its holdings in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares during the period. Finally, Versant Capital Management Inc grew its position in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 1.7 %

Shares of SPG stock opened at $172.90 on Thursday. The stock’s 50 day simple moving average is $177.00 and its 200 day simple moving average is $168.36. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $56.41 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 9.33 and a beta of 1.75.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.86%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio is 111.85%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Company 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.