Silvercrest Asset Management Group LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Silvercrest Asset Management Group LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the first quarter, Holdings Channel.com reports. The firm bought 1,328 shares of the real estate investment trust’s stock, valued at approximately $208,000.

A number of other hedge funds have also modified their holdings of SPG. Blue Trust Inc. raised its position in shares of Simon Property Group by 75.9% in the fourth quarter. Blue Trust Inc. now owns 767 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 331 shares during the last quarter. Global Retirement Partners LLC increased its position in Simon Property Group by 81.7% during the fourth quarter. Global Retirement Partners LLC now owns 823 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 370 shares during the last quarter. Fifth Third Bancorp increased its position in Simon Property Group by 0.6% during the fourth quarter. Fifth Third Bancorp now owns 26,279 shares of the real estate investment trust’s stock worth $3,748,000 after purchasing an additional 158 shares during the last quarter. Webster Bank N. A. increased its position in Simon Property Group by 320.0% during the fourth quarter. Webster Bank N. A. now owns 420 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 320 shares during the last quarter. Finally, Vanderbilt University increased its position in Simon Property Group by 25.9% during the fourth quarter. Vanderbilt University now owns 13,784 shares of the real estate investment trust’s stock worth $1,966,000 after purchasing an additional 2,834 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.9 %

NYSE SPG opened at $153.44 on Thursday. The firm has a 50 day simple moving average of $150.08 and a 200-day simple moving average of $147.96. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $158.50. The firm has a market cap of $50.01 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 9.00 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $2.74 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $2.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.21%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is currently 101.91%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 486 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Scotiabank raised their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Finally, Argus lifted their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged 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.