Simon Property Group (SPG) Stake Lessened by US Bancorp DE

US Bancorp DE trimmed its holdings in Simon Property Group (NYSE:SPG) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,828 shares of the real estate investment trust’s stock after selling 2,401 shares during the period. US Bancorp DE’s holdings in Simon Property Group were worth $10,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPG. Wasatch Advisors Inc. lifted its position in shares of Simon Property Group by 32.3% in the fourth quarter. Wasatch Advisors Inc. now owns 3,685 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 900 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Simon Property Group by 5.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,999,392 shares of the real estate investment trust’s stock worth $515,116,000 after purchasing an additional 161,969 shares during the last quarter. First Manhattan Co. lifted its holdings in Simon Property Group by 22.6% during the 4th quarter. First Manhattan Co. now owns 57,955 shares of the real estate investment trust’s stock worth $9,953,000 after purchasing an additional 10,675 shares during the last quarter. APG Asset Management US Inc. lifted its holdings in Simon Property Group by 0.3% during the 4th 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 purchasing an additional 24,208 shares during the last quarter. Finally, Partnervest Advisory Services LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $204,000. 92.47% of the stock is owned by institutional investors.

Simon Property Group stock opened at $154.18 on Monday. Simon Property Group has a one year low of $145.78 and a one year high of $173.02. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $49.39 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.09 and a beta of 0.55.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $2.87 EPS for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.04. Simon Property Group had a return on equity of 50.24% and a net margin of 37.36%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $1.53 EPS. The company’s revenue was up 4.0% on a year-over-year basis. equities research analysts expect that Simon Property Group will post 12.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Thursday, May 17th will be paid a dividend of $1.94 per share. The ex-dividend date is Wednesday, May 16th. This represents a $7.76 dividend on an annualized basis and a yield of 5.03%. Simon Property Group’s dividend payout ratio (DPR) is presently 69.58%.

SPG has been the subject of several research reports. JPMorgan Chase cut Simon Property Group from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 27th. Barclays reissued a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a report on Wednesday, January 31st. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Boenning Scattergood reissued a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a report on Thursday, February 1st. Finally, ValuEngine cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $184.87.

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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