Bank Julius Baer & Co. Ltd Zurich Buys 159 Shares of Simon Property Group, Inc. (NYSE:SPG)

Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,302 shares of the real estate investment trust’s stock after purchasing an additional 159 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Simon Property Group were worth $3,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SPG. Park Square Financial Group LLC increased its position in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the 4th quarter valued at about $31,000. Continuum Advisory LLC lifted its holdings in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG opened at $165.81 on Thursday. The firm has a market capitalization of $54.13 billion, a PE ratio of 26.40, a P/E/G ratio of 11.18 and a beta of 1.43. The firm has a 50 day moving average of $161.35 and a two-hundred day moving average of $165.58. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.56 EPS. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.07%. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Insider Activity at Simon Property Group

In related news, Director Larry C. Glasscock bought 396 shares of the firm’s stock in a transaction on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares of the company’s stock, valued at $6,878,938.65. This represents a 0.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glyn Aeppel bought 234 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the transaction, the director directly owned 19,057 shares of the company’s stock, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,386 shares of company stock worth $380,066 over the last 90 days. Corporate insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPG. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Scotiabank lifted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a report on Tuesday, June 17th. Wall Street Zen downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Mizuho reduced their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Finally, Barclays started coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $182.73.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.