Simon Property Group (SPG) Stake Raised by AR Asset Management Inc.

AR Asset Management Inc. increased its holdings in Simon Property Group (NYSE:SPG) by 1,208.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,700 shares of the real estate investment trust’s stock after purchasing an additional 14,500 shares during the period. AR Asset Management Inc.’s holdings in Simon Property Group were worth $2,423,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brookfield Asset Management Inc. grew its position in shares of Simon Property Group by 14.3% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,443,805 shares of the real estate investment trust’s stock valued at $591,439,000 after purchasing an additional 432,000 shares during the period. Sun Life Financial INC grew its position in shares of Simon Property Group by 102.7% in the fourth quarter. Sun Life Financial INC now owns 10,073 shares of the real estate investment trust’s stock valued at $1,730,000 after purchasing an additional 5,103 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Simon Property Group by 4.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,512 shares of the real estate investment trust’s stock valued at $3,866,000 after purchasing an additional 992 shares during the period. AXA grew its position in shares of Simon Property Group by 1.7% in the fourth quarter. AXA now owns 308,718 shares of the real estate investment trust’s stock valued at $53,019,000 after purchasing an additional 5,291 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Simon Property Group by 1.0% in the fourth quarter. Eagle Asset Management Inc. now owns 243,722 shares of the real estate investment trust’s stock valued at $38,546,000 after purchasing an additional 2,446 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

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

Shares of Simon Property Group stock opened at $154.65 on Wednesday. Simon Property Group has a twelve month low of $154.22 and a twelve month high of $157.51. The firm has a market capitalization of $51.22 billion, a P/E ratio of 13.80, a PEG ratio of 2.16 and a beta of 0.55. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.89 and a current ratio of 0.89.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share for the quarter, beating 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 analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. equities research analysts predict that Simon Property Group will post 12.02 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Thursday, May 17th will be issued a $1.94 dividend. This represents a $7.76 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Wednesday, May 16th. Simon Property Group’s payout ratio is currently 69.58%.

About Simon Property Group

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.

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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