Trade Report: Today: Simon Property Group Inc. (SPG) Position Boosted by Sei Investments Co.

Today: Simon Property Group Inc. (SPG) Position Boosted by Sei Investments Co.

Sei Investments Co. raised its stake in shares of Simon Property Group Inc. (NYSE:SPG) by 6.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 654,999 shares of the real estate investment trust’s stock after buying an additional 37,494 shares during the period. Simon Property Group comprises 0.7% of Sei Investments Co.’s investment portfolio, making the stock its 14th largest position. Sei Investments Co. owned approximately 0.21% of Simon Property Group worth $135,592,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. boosted its stake in Simon Property Group by 14.2% in the second quarter. Financial Management Professionals Inc. now owns 475 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 59 shares during the period. Arcadia Investment Management Corp MI boosted its stake in Simon Property Group by 531.3% in the second quarter. Arcadia Investment Management Corp MI now owns 505 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 425 shares during the period. Reilly Financial Advisors LLC boosted its stake in Simon Property Group by 3.3% in the second quarter. Reilly Financial Advisors LLC now owns 506 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 16 shares during the period. Mycio Wealth Partners LLC boosted its stake in Simon Property Group by 42.8% in the second quarter. Mycio Wealth Partners LLC now owns 524 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 157 shares during the period. Finally, Global X Management Co. LLC boosted its stake in Simon Property Group by 28.8% in the second quarter. Global X Management Co. LLC now owns 563 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 126 shares during the period. Institutional investors own 97.03% of the company’s stock.

Shares of Simon Property Group Inc. (NYSE:SPG) traded up 0.17% during midday trading on Monday, hitting $181.61. The stock had a trading volume of 485,077 shares. Simon Property Group Inc. has a 12-month low of $174.91 and a 12-month high of $229.10. The firm has a market cap of $57.07 billion, a PE ratio of 30.93 and a beta of 0.65. The firm has a 50-day moving average of $187.96 and a 200 day moving average of $205.25.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.02. Simon Property Group had a return on equity of 36.22% and a net margin of 35.37%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm posted $2.54 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Simon Property Group Inc. will post $10.80 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $1.65 per share. The ex-dividend date is Monday, November 14th. This represents a $6.60 annualized dividend and a dividend yield of 3.64%. Simon Property Group’s dividend payout ratio (DPR) is presently 112.25%.

SPG has been the topic of several research analyst reports. RBC Capital Markets lowered Simon Property Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $220.00 to $230.00 in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Royal Bank Of Canada reduced their price objective on Simon Property Group from $230.00 to $216.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 1st. Jefferies Group reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Simon Property Group in a research note on Sunday, October 23rd. Finally, Deutsche Bank AG lifted their price objective on Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Simon Property Group presently has a consensus rating of “Buy” and a consensus price target of $236.24.

In other news, SVP Steven K. Broadwater sold 945 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the sale, the senior vice president now owns 2,965 shares in the company, valued at approximately $638,690.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

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