Wealthfront Inc. Takes Position in Simon Property Group Inc (SPG)

Wealthfront Inc. purchased a new stake in shares of Simon Property Group Inc (NYSE:SPG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,481 shares of the real estate investment trust’s stock, valued at approximately $3,346,000.

Several other hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth approximately $256,000. UBS Asset Management Americas Inc. lifted its stake in shares of Simon Property Group by 5.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,567,168 shares of the real estate investment trust’s stock worth $440,885,000 after acquiring an additional 134,563 shares during the period. Hutchinson Capital Management CA lifted its stake in shares of Simon Property Group by 0.8% in the fourth quarter. Hutchinson Capital Management CA now owns 57,075 shares of the real estate investment trust’s stock worth $9,802,000 after acquiring an additional 479 shares during the period. Rhumbline Advisers lifted its stake in shares of Simon Property Group by 2.7% in the fourth quarter. Rhumbline Advisers now owns 646,703 shares of the real estate investment trust’s stock worth $111,065,000 after acquiring an additional 16,939 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Simon Property Group by 4.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,048 shares of the real estate investment trust’s stock worth $3,271,000 after acquiring an additional 731 shares during the period. 46.99% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on SPG. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Boenning Scattergood reissued a “buy” rating and issued a $240.00 price target on shares of Simon Property Group in a research note on Thursday, February 1st. Barclays reissued a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a research note on Wednesday, January 31st. Finally, Raymond James Financial set a $185.00 price target on Simon Property Group and gave the company a “buy” rating in a research note on Sunday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Simon Property Group presently has a consensus rating of “Buy” and an average price target of $191.11.

Shares of Simon Property Group Inc (NYSE SPG) opened at $156.09 on Monday. Simon Property Group Inc has a 1-year low of $150.15 and a 1-year high of $187.35. The stock has a market capitalization of $99,861.70, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.98 and a beta of 0.55. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 5.87.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The business 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 company posted $1.26 earnings per share. Simon Property Group’s revenue was up .1% compared to the same quarter last year. analysts forecast that Simon Property Group Inc will post 12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be issued a dividend of $1.95 per share. The ex-dividend date is Tuesday, February 13th. This represents a $7.80 annualized dividend and a yield of 5.00%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio is 124.80%.

In related news, CAO Steven K. Broadwater sold 621 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. Following the completion of the sale, the chief accounting officer now owns 2,290 shares in the company, valued at $393,765.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.42% of the company’s stock.

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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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