D.A. Davidson & CO. Has $924,000 Stake in Simon Property Group Inc (SPG)

D.A. Davidson & CO. lifted its position in Simon Property Group Inc (NYSE:SPG) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,741 shares of the real estate investment trust’s stock after acquiring an additional 1,320 shares during the period. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $924,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Capital World Investors boosted its holdings in shares of Simon Property Group by 25.4% during the second quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock worth $3,362,667,000 after purchasing an additional 4,210,000 shares during the period. Eaton Vance Management boosted its holdings in shares of Simon Property Group by 110.5% during the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after purchasing an additional 811,457 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Simon Property Group by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock worth $1,067,204,000 after purchasing an additional 789,384 shares during the period. Uniplan Investment Counsel Inc. boosted its holdings in shares of Simon Property Group by 118.1% during the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock worth $88,381,000 after purchasing an additional 714,159 shares during the period. Finally, Brookfield Asset Management Inc. boosted its holdings in shares of Simon Property Group by 28.4% during the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after purchasing an additional 690,169 shares during the period. 95.24% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Inc (NYSE:SPG) traded down $1.65 during midday trading on Monday, reaching $156.35. 618,502 shares of the company’s stock were exchanged, compared to its average volume of 1,816,173. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $101,083.66, a PE ratio of 14.35, a PEG ratio of 2.14 and a beta of 0.60. Simon Property Group Inc has a 1 year low of $150.15 and a 1 year high of $188.10.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a net margin of 42.22% and a return on equity of 56.26%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.70 earnings per share. analysts expect that Simon Property Group Inc will post 11.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be paid a $1.85 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a yield of 4.73%. Simon Property Group’s payout ratio is 130.51%.

SPG has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of Simon Property Group in a report on Monday, September 11th. They set an “outperform” rating and a $175.00 price target for the company. Stifel Nicolaus set a $170.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a report on Sunday, August 27th. BidaskClub upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a report on Wednesday, October 11th. Finally, Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $191.45.

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About Simon Property Group

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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