Parametric Portfolio Associates LLC Has $113.67 Million Stake in Simon Property Group Inc (SPG)

Parametric Portfolio Associates LLC grew its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 23.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 705,971 shares of the real estate investment trust’s stock after acquiring an additional 132,775 shares during the period. Parametric Portfolio Associates LLC owned about 0.11% of Simon Property Group worth $113,668,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Simon Property Group by 69.7% during the third quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 317 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Simon Property Group by 27.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in Simon Property Group during the second quarter worth $157,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Simon Property Group by 0.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 7 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Simon Property Group by 791.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 4,843 shares during the last quarter. 47.60% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on SPG shares. Argus lowered their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. Jefferies Group restated a “buy” rating and issued a $200.00 price target (up from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. Stifel Nicolaus set a $170.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a report on Sunday, August 27th. BMO Capital Markets initiated coverage on shares of Simon Property Group in a report on Monday, September 11th. They issued an “outperform” rating and a $175.00 price target for the company. Finally, Zacks Investment Research upgraded 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 report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Simon Property Group has a consensus rating of “Buy” and a consensus target price of $191.11.

Shares of Simon Property Group Inc (NYSE:SPG) traded up $2.18 during midday trading on Friday, hitting $167.81. 3,050,000 shares of the stock were exchanged, compared to its average volume of 1,970,000. The firm has a market capitalization of $54,400.00, a PE ratio of 15.04, a P/E/G ratio of 2.24 and a beta of 0.62. Simon Property Group Inc has a 52-week low of $150.15 and a 52-week high of $188.10. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $2.70 earnings per share. research analysts forecast that Simon Property Group Inc will post 11.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were issued a dividend of $1.85 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is currently 130.74%.

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About Simon Property Group

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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