Simon Property Group Inc (SPG) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in Simon Property Group Inc (NYSE:SPG) by 46.0% in the fourth quarter, Holdings Channel reports. The fund owned 27,293 shares of the real estate investment trust’s stock after acquiring an additional 8,595 shares during the period. Meeder Asset Management Inc.’s holdings in Simon Property Group were worth $4,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cohen & Steers Inc. raised its stake in shares of Simon Property Group by 6.2% in the third quarter. Cohen & Steers Inc. now owns 12,350,345 shares of the real estate investment trust’s stock worth $1,988,529,000 after acquiring an additional 719,375 shares during the last quarter. APG Asset Management US Inc. raised its stake in shares of Simon Property Group by 0.3% in the fourth quarter. APG Asset Management US Inc. now owns 7,517,948 shares of the real estate investment trust’s stock worth $1,291,132,000 after acquiring an additional 24,208 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Simon Property Group by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock worth $1,067,204,000 after acquiring an additional 789,384 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Simon Property Group by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,460,741 shares of the real estate investment trust’s stock worth $718,227,000 after acquiring an additional 21,676 shares during the last quarter. Finally, PGGM Investments raised its stake in shares of Simon Property Group by 2.3% in the third quarter. PGGM Investments now owns 3,637,334 shares of the real estate investment trust’s stock worth $585,647,000 after acquiring an additional 83,093 shares during the last quarter. 47.57% of the stock is owned by institutional investors.

In other Simon Property Group news, SVP Steven K. Broadwater sold 621 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $171.95, for a total value of $106,780.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.42% of the stock is currently owned by corporate insiders.

Shares of Simon Property Group Inc (SPG) opened at $156.52 on Monday. Simon Property Group Inc has a 12 month low of $150.15 and a 12 month high of $187.35. The company has a quick ratio of 0.93, a current ratio of 1.75 and a debt-to-equity ratio of 5.87. The company has a market cap of $100,136.80, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.55.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.12. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. equities research analysts forecast that Simon Property Group Inc will post 12.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 4.98%. The ex-dividend date is Tuesday, February 13th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio is presently 118.40%.

SPG has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research note on Wednesday, October 11th. BMO Capital Markets set a $175.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Friday, October 27th. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Monday, October 30th. Argus dropped their price target on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “hold” rating and set a $176.00 price target on shares of Simon Property Group in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Simon Property Group currently has an average rating of “Buy” and a consensus target price of $191.11.

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Simon Property Group 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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