Aristotle Fund L.P. Purchases Shares of 12,000 Simon Property Group Inc (SPG)

Aristotle Fund L.P. acquired a new position in Simon Property Group Inc (NYSE:SPG) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,000 shares of the real estate investment trust’s stock, valued at approximately $2,187,000. Simon Property Group accounts for about 11.0% of Aristotle Fund L.P.’s portfolio, making the stock its 4th largest holding.

Several other institutional investors have also recently modified their holdings of the business. Private Trust Co. NA raised its position in shares of Simon Property Group by 4.7% in the first quarter. Private Trust Co. NA now owns 1,310 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 59 shares during the period. San Francisco Sentry Investment Group CA raised its position in shares of Simon Property Group by 6.9% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 933 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 60 shares during the period. First Personal Financial Services raised its position in shares of Simon Property Group by 37.4% in the fourth quarter. First Personal Financial Services now owns 224 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 61 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Simon Property Group by 13.3% in the first quarter. Flagship Harbor Advisors LLC now owns 527 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 62 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Simon Property Group by 11.8% in the first quarter. Parallel Advisors LLC now owns 599 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 96.40% of the company’s stock.

A number of brokerages have weighed in on SPG. Barclays reiterated a “buy” rating and issued a $202.00 price objective on shares of Simon Property Group in a research report on Tuesday, April 16th. BMO Capital Markets reiterated a “buy” rating and issued a $191.00 price objective on shares of Simon Property Group in a research report on Friday, February 1st. Mizuho downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price target for the company. in a research report on Friday, February 15th. Finally, Wells Fargo & Co downgraded shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a research report on Friday, February 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $192.14.

SPG opened at $175.21 on Friday. Simon Property Group Inc has a twelve month low of $152.50 and a twelve month high of $191.49. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market cap of $53.69 billion, a P/E ratio of 14.44, a P/E/G ratio of 3.02 and a beta of 0.54.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.02. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Simon Property Group Inc will post 12.37 earnings per share for the current fiscal year.

Simon Property Group declared that its board has authorized a stock repurchase program on Tuesday, February 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $2.05 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $8.20 annualized dividend and a dividend yield of 4.68%. Simon Property Group’s dividend payout ratio (DPR) is presently 67.60%.

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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.

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

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