Simon Property Group, Inc. (SPG) Shares Sold by Cedar Capital LLC

Cedar Capital LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,652 shares of the real estate investment trust’s stock after selling 1,720 shares during the period. Simon Property Group accounts for approximately 0.8% of Cedar Capital LLC’s holdings, making the stock its 26th biggest position. Cedar Capital LLC’s holdings in Simon Property Group were worth $1,715,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SPG. Capital World Investors lifted its stake in shares of Simon Property Group by 25.4% in the 2nd quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock worth $3,362,667,000 after acquiring an additional 4,210,000 shares during the period. Eaton Vance Management lifted its stake in shares of Simon Property Group by 110.5% in the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after acquiring an additional 811,457 shares during the period. Uniplan Investment Counsel Inc. lifted its stake in shares of Simon Property Group by 118.1% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock worth $88,381,000 after acquiring an additional 714,159 shares during the period. Brookfield Asset Management Inc. lifted its stake in shares of Simon Property Group by 28.4% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after acquiring an additional 690,169 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Simon Property Group by 9.7% in the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock worth $988,797,000 after acquiring an additional 542,743 shares during the period. 95.24% of the stock is owned by institutional investors.

Simon Property Group, Inc. (SPG) traded up $2.49 during trading on Friday, reaching $163.75. 2,832,300 shares of the company’s stock traded hands, compared to its average volume of 1,787,313. The firm has a market cap of $104,762.34, a price-to-earnings ratio of 14.87, a PEG ratio of 2.20 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group, Inc. has a 1 year low of $150.15 and a 1 year high of $189.25.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. The firm 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%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.70 EPS. research analysts expect that Simon Property Group, Inc. will post 11.21 EPS for the current fiscal year.

The business also recently disclosed 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. This represents a $7.40 annualized dividend and a yield of 4.52%. The ex-dividend date is Wednesday, November 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is currently 126.98%.

Several analysts recently commented on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $176.00 target price on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus cut their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Zacks Investment Research lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. SunTrust Banks, Inc. set a $170.00 target price on shares of Simon Property Group and gave the company a “hold” rating in a research note on Sunday, October 29th. Finally, Mizuho set a $183.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $191.45.

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Simon Property Group 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.

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

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