Simon Property Group Inc (SPG) Stake Boosted by Blair William & Co. IL

Blair William & Co. IL grew its holdings in Simon Property Group Inc (NYSE:SPG) by 355.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,587 shares of the real estate investment trust’s stock after purchasing an additional 5,921 shares during the period. Blair William & Co. IL’s holdings in Simon Property Group were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in SPG. Cornerstone Wealth Management LLC acquired a new position in Simon Property Group during the second quarter worth $388,000. Alps Advisors Inc. raised its holdings in Simon Property Group by 2.0% during the second quarter. Alps Advisors Inc. now owns 16,519 shares of the real estate investment trust’s stock worth $2,837,000 after buying an additional 320 shares during the last quarter. Smith Asset Management Group LP raised its holdings in Simon Property Group by 3.6% during the second quarter. Smith Asset Management Group LP now owns 41,302 shares of the real estate investment trust’s stock worth $7,029,000 after buying an additional 1,440 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Simon Property Group by 21.4% during the second quarter. D.A. Davidson & CO. now owns 7,335 shares of the real estate investment trust’s stock worth $1,248,000 after buying an additional 1,292 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Simon Property Group by 1,839.4% during the second quarter. CIBC Private Wealth Group LLC now owns 10,841 shares of the real estate investment trust’s stock worth $1,846,000 after buying an additional 10,282 shares during the last quarter. 92.99% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider John Rulli sold 6,000 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total value of $1,119,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.64% of the company’s stock.

Shares of SPG stock opened at $188.42 on Friday. The stock has a market capitalization of $59.29 billion, a PE ratio of 16.81, a PEG ratio of 2.57 and a beta of 0.42. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.12. Simon Property Group Inc has a one year low of $145.78 and a one year high of $191.16.

Simon Property Group (NYSE:SPG) last announced its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.07. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. On average, equities research analysts anticipate that Simon Property Group Inc will post 12.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were issued a $2.00 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $8.00 annualized dividend and a dividend yield of 4.25%. Simon Property Group’s dividend payout ratio is currently 71.36%.

Several research analysts have weighed in on the stock. Raymond James upped their price objective on shares of Simon Property Group from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, October 29th. Royal Bank of Canada upped their price objective on shares of Simon Property Group to $183.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 21st. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Scotiabank set a $183.00 price objective on shares of Simon Property Group and gave the stock a “hold” rating in a report on Monday, November 12th. Finally, Citigroup upped their price objective on shares of Simon Property Group from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.27.

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Simon Property Group Company Profile

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.

Read More: S&P 500 Index

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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