Intact Investment Management Inc. Reduces Position in Simon Property Group Inc (NYSE:SPG)

Intact Investment Management Inc. cut its stake in shares of Simon Property Group Inc (NYSE:SPG) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,700 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Simon Property Group were worth $5,613,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Carmichael Hill & Associates Inc. purchased a new stake in Simon Property Group in the fourth quarter valued at $25,000. HBC Financial Services PLLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $30,000. BerganKDV Wealth Management LLC raised its position in shares of Simon Property Group by 42.5% in the fourth quarter. BerganKDV Wealth Management LLC now owns 248 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 74 shares during the period. Ancora Advisors LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $60,000. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Simon Property Group in the fourth quarter worth about $64,000. 91.94% of the stock is currently owned by institutional investors.

In other news, Director Reuben S. Leibowitz purchased 1,500 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average price of $64.88 per share, with a total value of $97,320.00. Following the purchase, the director now directly owns 35,434 shares in the company, valued at approximately $2,298,957.92. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Larry C. Glasscock purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of $58.98 per share, with a total value of $589,800.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 350,072 shares of company stock valued at $19,745,593. Corporate insiders own 8.75% of the company’s stock.

SPG stock traded down $1.53 during mid-day trading on Thursday, reaching $60.81. The company’s stock had a trading volume of 688,104 shares, compared to its average volume of 6,517,029. The stock has a market cap of $17.54 billion, a PE ratio of 8.93, a P/E/G ratio of 1.21 and a beta of 0.63. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 8.42. Simon Property Group Inc has a fifty-two week low of $43.52 and a fifty-two week high of $186.40. The company’s 50 day moving average is $114.02 and its two-hundred day moving average is $140.51.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $1.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.95 by ($1.29). Simon Property Group had a net margin of 36.52% and a return on equity of 65.24%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the company posted $3.23 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. On average, analysts forecast that Simon Property Group Inc will post 12.1 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $2.10 dividend. The ex-dividend date was Thursday, February 13th. This represents a $8.40 annualized dividend and a dividend yield of 13.81%. Simon Property Group’s dividend payout ratio (DPR) is 69.77%.

A number of research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $162.00 to $109.00 in a research report on Tuesday, March 10th. Raymond James cut their price objective on shares of Simon Property Group from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Stifel Nicolaus cut their price objective on shares of Simon Property Group from $160.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. ValuEngine downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Finally, Cfra cut their price objective on shares of Simon Property Group from $145.00 to $120.00 and set a “sell” rating for the company in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $146.46.

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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