Simon Property Group, Inc. (SPG) Shares Bought by Quadrant Capital Management LLC

Quadrant Capital Management LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,369 shares of the real estate investment trust’s stock after purchasing an additional 680 shares during the period. Quadrant Capital Management LLC’s holdings in Simon Property Group were worth $2,153,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SPG. Capital World Investors increased its holdings in shares of Simon Property Group by 25.4% in the 2nd quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock worth $3,362,667,000 after purchasing an additional 4,210,000 shares in the last quarter. Eaton Vance Management grew its holdings in shares of Simon Property Group by 110.5% in the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after acquiring an additional 811,457 shares during the period. Bank of New York Mellon Corp grew its holdings 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 period. Uniplan Investment Counsel Inc. grew its holdings in shares of Simon Property Group by 118.1% in the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock worth $88,381,000 after acquiring an additional 714,159 shares during the period. Finally, Brookfield Asset Management Inc. grew its holdings in shares of Simon Property Group by 28.4% in the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after acquiring an additional 690,169 shares during the period. 95.24% of the stock is owned by institutional investors and hedge funds.

Shares of Simon Property Group, Inc. (SPG) traded down $1.22 during trading on Wednesday, hitting $159.29. The stock had a trading volume of 877,213 shares, compared to its average volume of 1,827,928. Simon Property Group, Inc. has a fifty-two week low of $150.15 and a fifty-two week high of $189.25. The stock has a market capitalization of $102,561.53, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $2.70 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. analysts forecast that Simon Property Group, Inc. will post 11.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a $1.85 dividend. This represents a $7.40 annualized dividend and a dividend yield of 4.65%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Wednesday, November 15th. Simon Property Group’s payout ratio is presently 126.98%.

SPG has been the subject of several research analyst reports. Barclays PLC cut their price objective on Simon Property Group from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Simon Property Group in a report on Tuesday, July 25th. BidaskClub raised Simon Property Group from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Argus cut their price objective on Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $191.45.

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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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