Victory Capital Management Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,776 shares of the real estate investment trust's stock after purchasing an additional 12,854 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Simon Property Group worth $38,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Aptus Capital Advisors LLC lifted its position in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust's stock valued at $273,000 after acquiring an additional 61 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust's stock valued at $251,484,000 after purchasing an additional 25,519 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Simon Property Group by 30.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 70,738 shares of the real estate investment trust's stock worth $11,956,000 after purchasing an additional 16,670 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Simon Property Group by 9.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,701 shares of the real estate investment trust's stock valued at $1,133,000 after buying an additional 599 shares during the period. Finally, Versor Investments LP increased its position in Simon Property Group by 39.7% in the 3rd quarter. Versor Investments LP now owns 8,090 shares of the real estate investment trust's stock valued at $1,367,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 93.01% of the company's stock.
Shares of NYSE:SPG opened at $180.27 on Friday. Simon Property Group, Inc. has a 12 month low of $119.72 and a 12 month high of $182.84. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20. The stock has a market cap of $58.78 billion, a P/E ratio of 24.00, a P/E/G ratio of 10.45 and a beta of 1.74. The company has a 50 day moving average of $170.77 and a 200 day moving average of $158.71.
Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the firm earned $3.20 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group's payout ratio is currently 109.19%.
In other news, Director Allan B. Hubbard bought 370 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares of the company's stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by company insiders.
SPG has been the subject of a number of research reports. Mizuho raised their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a "neutral" rating in a research note on Monday, August 19th. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Simon Property Group from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Finally, Stifel Nicolaus restated a "hold" rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $162.78.
Check Out Our Latest Stock Analysis on Simon Property Group
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.
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