Simon Property Group Inc (SPG) Shares Bought by TLP Group LLC

TLP Group LLC raised its stake in shares of Simon Property Group Inc (NYSE:SPG) by 112.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,820 shares of the real estate investment trust’s stock after buying an additional 2,548 shares during the quarter. Simon Property Group comprises approximately 0.5% of TLP Group LLC’s holdings, making the stock its 14th largest position. TLP Group LLC’s holdings in Simon Property Group were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. Oppenheimer & Co. Inc. grew its holdings in Simon Property Group by 31.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,726 shares of the real estate investment trust’s stock valued at $640,000 after buying an additional 901 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Simon Property Group by 3.9% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 26,490 shares of the real estate investment trust’s stock valued at $4,549,000 after buying an additional 998 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in Simon Property Group by 83.9% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,278 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 583 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in Simon Property Group during the 4th quarter valued at approximately $1,047,000. Finally, Aviance Capital Management LLC purchased a new stake in Simon Property Group during the 4th quarter valued at approximately $16,874,000. 92.29% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on SPG shares. Boenning Scattergood reaffirmed a “buy” rating and set a $240.00 price objective on shares of Simon Property Group in a report on Monday, April 30th. ValuEngine raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Zacks Investment Research raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. JPMorgan Chase & Co. lowered shares of Simon Property Group from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 27th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $175.00 target price (down from $185.00) on shares of Simon Property Group in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $186.46.

SPG traded up $0.46 during trading on Thursday, reaching $162.96. The company had a trading volume of 3,388 shares, compared to its average volume of 1,780,018. The company has a market cap of $52.89 billion, a PE ratio of 14.50, a P/E/G ratio of 2.18 and a beta of 0.58. Simon Property Group Inc has a 52 week low of $145.78 and a 52 week high of $173.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.93.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.04. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a return on equity of 50.24% and a net margin of 37.36%. Simon Property Group’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. research analysts anticipate that Simon Property Group Inc will post 12.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Thursday, May 17th were given a $1.94 dividend. The ex-dividend date of this dividend was Wednesday, May 16th. This represents a $7.76 dividend on an annualized basis and a yield of 4.76%. Simon Property Group’s dividend payout ratio is presently 69.58%.

Simon Property Group 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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