Simon Property Group Inc (NYSE:SPG) Shares Sold by Barings LLC

Barings LLC lowered its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 38.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230,367 shares of the real estate investment trust’s stock after selling 145,721 shares during the quarter. Simon Property Group comprises about 1.0% of Barings LLC’s investment portfolio, making the stock its 25th biggest position. Barings LLC owned approximately 0.07% of Simon Property Group worth $41,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Athena Capital Advisors LLC grew its position in Simon Property Group by 173,950.8% in the 1st quarter. Athena Capital Advisors LLC now owns 410,760 shares of the real estate investment trust’s stock worth $63,401,000 after purchasing an additional 410,524 shares during the last quarter. Advisors Asset Management Inc. grew its position in Simon Property Group by 58.7% in the 4th quarter. Advisors Asset Management Inc. now owns 18,243 shares of the real estate investment trust’s stock worth $3,065,000 after purchasing an additional 6,751 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Simon Property Group by 13.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 527 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 62 shares during the last quarter. Van ECK Associates Corp grew its position in Simon Property Group by 9.1% in the 4th quarter. Van ECK Associates Corp now owns 107,648 shares of the real estate investment trust’s stock worth $18,084,000 after purchasing an additional 8,985 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its position in Simon Property Group by 9.1% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 4,846 shares of the real estate investment trust’s stock worth $883,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 95.73% of the company’s stock.

SPG stock traded down $0.90 during trading on Friday, hitting $162.92. 1,124,067 shares of the stock traded hands, compared to its average volume of 1,396,780. Simon Property Group Inc has a one year low of $159.69 and a one year high of $191.49. The company has a market capitalization of $50.62 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.95 and a beta of 0.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.02. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $2.00 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts expect that Simon Property Group Inc will post 12.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Thursday, May 16th. Simon Property Group’s dividend payout ratio is presently 67.60%.

SPG has been the topic of several recent research reports. Barclays reiterated a “buy” rating and set a $202.00 target price on shares of Simon Property Group in a research report on Tuesday, April 16th. Mizuho lowered shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 target price on the stock. in a research report on Friday, February 15th. Deutsche Bank decreased their target price on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $192.00.

In related news, insider John Rulli sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the sale, the insider now directly owns 29,646 shares of the company’s stock, valued at $5,222,735.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.75% of the company’s stock.

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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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