Eagle Asset Management Inc. Sells 771 Shares of Simon Property Group Inc (SPG)

Eagle Asset Management Inc. lowered its holdings in Simon Property Group Inc (NYSE:SPG) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,605 shares of the real estate investment trust’s stock after selling 771 shares during the period. Eagle Asset Management Inc.’s holdings in Simon Property Group were worth $9,121,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Private Advisor Group LLC acquired a new position in shares of Simon Property Group in the 2nd quarter valued at approximately $668,000. Envestnet Asset Management Inc. raised its position in shares of Simon Property Group by 219.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,317 shares of the real estate investment trust’s stock valued at $2,437,000 after buying an additional 9,842 shares in the last quarter. BTC Capital Management Inc. raised its position in shares of Simon Property Group by 2.7% in the 2nd quarter. BTC Capital Management Inc. now owns 32,678 shares of the real estate investment trust’s stock valued at $5,567,000 after buying an additional 851 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $636,000. Finally, Centersquare Investment Management LLC raised its position in shares of Simon Property Group by 7.3% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,070,931 shares of the real estate investment trust’s stock valued at $522,642,000 after buying an additional 208,486 shares in the last quarter. 92.99% of the stock is owned by hedge funds and other institutional investors.

SPG stock opened at $183.02 on Friday. The company has a market cap of $58.69 billion, a P/E ratio of 16.33, a P/E/G ratio of 2.49 and a beta of 0.40. Simon Property Group Inc has a 1 year low of $145.78 and a 1 year high of $191.16. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.07. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. As a group, research analysts expect that Simon Property Group Inc will post 12.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, November 15th. Simon Property Group’s dividend payout ratio is 71.36%.

In related news, insider John Rulli sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total transaction of $1,119,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.64% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on SPG shares. Bank of America boosted their target price on shares of Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Scotiabank started coverage on shares of Simon Property Group in a research report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Argus boosted their target price on shares of Simon Property Group to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research report on Thursday, October 4th. Finally, Citigroup boosted their target price on shares of Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Simon Property Group presently has a consensus rating of “Buy” and a consensus target price of $194.46.

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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.

Read More: Debt-To-Equity Ratio

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

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