BTC Capital Management Inc. Acquires 278 Shares of Simon Property Group, Inc. (NYSE:SPG)

BTC Capital Management Inc. raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 33,140 shares of the real estate investment trust’s stock after buying an additional 278 shares during the period. Simon Property Group accounts for about 1.0% of BTC Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. BTC Capital Management Inc.’s holdings in Simon Property Group were worth $5,358,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. HPM Partners LLC acquired a new stake in shares of Simon Property Group during the first quarter worth about $2,755,000. Kissinger Financial Services LLC boosted its stake in shares of Simon Property Group by 1.4% in the second quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock worth $3,566,000 after buying an additional 294 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the first quarter worth about $224,000. Private Advisor Group LLC boosted its stake in shares of Simon Property Group by 16.6% in the first quarter. Private Advisor Group LLC now owns 5,150 shares of the real estate investment trust’s stock worth $877,000 after buying an additional 734 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Simon Property Group by 0.5% in the first quarter. United Services Automobile Association now owns 130,911 shares of the real estate investment trust’s stock worth $22,521,000 after buying an additional 617 shares during the last quarter. 95.64% of the stock is owned by institutional investors.

Simon Property Group, Inc. (SPG) opened at 161.15 on Friday. The firm has a market cap of $50.09 billion, a P/E ratio of 28.72 and a beta of 0.58. The firm’s 50-day moving average price is $160.87 and its 200 day moving average price is $167.42. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $219.41.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $2.63 EPS. Equities analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio (DPR) is 124.33%.

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SPG has been the subject of a number of recent research reports. Vetr raised shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 target price for the company in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $175.00 to $185.00 in a research report on Tuesday, June 20th. Stifel Nicolaus initiated coverage on shares of Simon Property Group in a research report on Friday, July 14th. They issued a “hold” rating and a $170.00 target price for the company. ValuEngine cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Barclays PLC reissued an “overweight” rating and issued a $191.00 target price (down previously from $200.00) on shares of Simon Property Group in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Simon Property Group has an average rating of “Buy” and a consensus price target of $195.01.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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

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