Ffcm LLC Has $6.74 Million Stake in Simon Property Group, Inc. (SPG)

Ffcm LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 21.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,884 shares of the real estate investment trust’s stock after buying an additional 7,479 shares during the quarter. Simon Property Group comprises approximately 1.5% of Ffcm LLC’s holdings, making the stock its 21st largest position. Ffcm LLC’s holdings in Simon Property Group were worth $6,744,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SPG. APG Asset Management N.V. lifted its stake in shares of Simon Property Group by 12.0% in the second quarter. APG Asset Management N.V. now owns 72,045 shares of the real estate investment trust’s stock worth $11,654,000 after buying an additional 7,700 shares during the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in shares of Simon Property Group in the second quarter worth $499,000. RMR Advisors LLC lifted its stake in shares of Simon Property Group by 2.3% in the second quarter. RMR Advisors LLC now owns 44,427 shares of the real estate investment trust’s stock worth $7,187,000 after buying an additional 1,000 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in shares of Simon Property Group by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 13,800 shares of the real estate investment trust’s stock worth $2,232,000 after buying an additional 582 shares during the last quarter. Finally, IBM Retirement Fund lifted its stake in shares of Simon Property Group by 120.9% in the second quarter. IBM Retirement Fund now owns 7,591 shares of the real estate investment trust’s stock worth $1,373,000 after buying an additional 4,155 shares during the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.

A number of brokerages have recently weighed in on SPG. Royal Bank Of Canada restated a “hold” rating and issued a $176.00 price objective on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus dropped their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research report on Wednesday, October 11th. Mizuho set a $183.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, October 29th. Finally, Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Simon Property Group currently has an average rating of “Buy” and a consensus price target of $191.45.

Shares of Simon Property Group, Inc. (NYSE:SPG) traded down $0.33 during mid-day trading on Friday, reaching $158.00. 589,498 shares of the company were exchanged, compared to its average volume of 1,988,446. Simon Property Group, Inc. has a fifty-two week low of $150.15 and a fifty-two week high of $188.10. The company has a market capitalization of $101,083.66, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.14 and a beta of 0.60. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. Simon Property Group’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 earnings per share. equities analysts anticipate that Simon Property Group, Inc. will post 11.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $1.85 dividend. This represents a $7.40 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, November 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s payout ratio is 130.51%.

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Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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

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