Aperio Group LLC Cuts Holdings in Simon Property Group (SPG)

Aperio Group LLC lessened its stake in Simon Property Group (NYSE:SPG) by 16.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 123,410 shares of the real estate investment trust’s stock after selling 24,972 shares during the quarter. Aperio Group LLC’s holdings in Simon Property Group were worth $19,048,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SPG. Pennsylvania Trust Co grew its stake in Simon Property Group by 223.4% in the 4th quarter. Pennsylvania Trust Co now owns 17,362 shares of the real estate investment trust’s stock worth $2,981,000 after buying an additional 11,994 shares in the last quarter. Bank of Montreal Can grew its stake in Simon Property Group by 36.6% in the 4th quarter. Bank of Montreal Can now owns 442,547 shares of the real estate investment trust’s stock worth $76,003,000 after buying an additional 118,485 shares in the last quarter. Wasatch Advisors Inc. grew its stake in Simon Property Group by 32.3% in the 4th quarter. Wasatch Advisors Inc. now owns 3,685 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 900 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Simon Property Group by 8.9% in the 4th quarter. Capital Investment Advisors LLC now owns 13,162 shares of the real estate investment trust’s stock worth $2,260,000 after buying an additional 1,079 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Simon Property Group by 5.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,999,392 shares of the real estate investment trust’s stock worth $515,116,000 after buying an additional 161,969 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Shares of SPG opened at $153.68 on Friday. The company has a market capitalization of $49.54 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.55. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.89 and a quick ratio of 0.89. Simon Property Group has a fifty-two week low of $153.66 and a fifty-two week high of $155.57.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.04. Simon Property Group had a net margin of 37.36% and a return on equity of 50.24%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $1.53 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. equities research analysts expect that Simon Property Group will post 12.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Thursday, May 17th will be issued a dividend of $1.94 per share. The ex-dividend date is Wednesday, May 16th. This represents a $7.76 dividend on an annualized basis and a yield of 5.05%. Simon Property Group’s dividend payout ratio is currently 69.58%.

A number of research firms have commented on SPG. ValuEngine cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Wells Fargo reissued an “outperform” rating and issued a $175.00 price target (down previously from $185.00) on shares of Simon Property Group in a research note on Tuesday, May 1st. Barclays lowered their price objective on shares of Simon Property Group from $190.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Boenning Scattergood restated a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a report on Thursday, February 1st. Finally, Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $184.87.

Simon Property Group Company Profile

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.

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

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