Mid Atlantic Financial Management Inc. ADV Acquires Shares of 3,692 Simon Property Group Inc (NYSE:SPG)

Mid Atlantic Financial Management Inc. ADV acquired a new stake in Simon Property Group Inc (NYSE:SPG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,692 shares of the real estate investment trust’s stock, valued at approximately $252,000.

Other hedge funds have also recently made changes to their positions in the company. Chicago Equity Partners LLC lifted its holdings in Simon Property Group by 129.6% in the 1st quarter. Chicago Equity Partners LLC now owns 4,615 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 2,605 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Simon Property Group by 342.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,225 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 948 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Simon Property Group by 225.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 93,711 shares of the real estate investment trust’s stock worth $6,408,000 after acquiring an additional 64,887 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Simon Property Group by 207.3% in the 1st quarter. NEXT Financial Group Inc now owns 2,013 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 1,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Simon Property Group by 2.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 413,491 shares of the real estate investment trust’s stock worth $22,684,000 after acquiring an additional 9,062 shares during the last quarter. Institutional investors own 90.14% of the company’s stock.

A number of brokerages have issued reports on SPG. Raymond James downgraded Simon Property Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 11th. TheStreet downgraded Simon Property Group from a “c” rating to a “d+” rating in a research note on Monday, August 10th. Compass Point began coverage on Simon Property Group in a research report on Thursday, June 4th. They set a “buy” rating and a $120.00 price objective for the company. Wells Fargo & Co raised their price objective on Simon Property Group from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus raised their price objective on Simon Property Group from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.88.

Shares of SPG opened at $65.13 on Wednesday. The stock has a 50-day simple moving average of $64.41 and a 200-day simple moving average of $77.69. The company has a debt-to-equity ratio of 11.89, a quick ratio of 3.91 and a current ratio of 3.91. The stock has a market capitalization of $21.85 billion, a PE ratio of 11.45, a PEG ratio of 1.35 and a beta of 1.28. Simon Property Group Inc has a 1 year low of $42.25 and a 1 year high of $163.60.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.15). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Simon Property Group had a net margin of 32.88% and a return on equity of 65.60%. The business’s quarterly revenue was down 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. Analysts predict that Simon Property Group Inc will post 10.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 7.98%. The ex-dividend date was Thursday, July 9th. Simon Property Group’s payout ratio is 43.19%.

Simon Property Group Company 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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