Tower Bridge Advisors grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,445 shares of the real estate investment trust’s stock after buying an additional 400 shares during the period. Tower Bridge Advisors’ holdings in Simon Property Group were worth $555,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial For Lutherans lifted its position in shares of Simon Property Group by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock valued at $28,021,000 after buying an additional 2,530 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Simon Property Group by 9.7% during the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after buying an additional 542,743 shares in the last quarter. Eaton Vance Management lifted its position in shares of Simon Property Group by 110.5% during the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after buying an additional 811,457 shares in the last quarter. Partners Value Investments LP purchased a new position in Simon Property Group in the 2nd quarter worth approximately $11,647,000. Finally, Koch Industries Inc. purchased a new position in Simon Property Group in the 2nd quarter worth approximately $456,000. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Simon Property Group, Inc. (NYSE:SPG) traded up $2.49 during trading on Monday, reaching $163.75. The company’s stock had a trading volume of 2,832,300 shares, compared to its average volume of 1,821,617. The company has a market cap of $52,390.00, a P/E ratio of 14.87, a PEG ratio of 2.20 and a beta of 0.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $189.25.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. Simon Property Group’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.70 EPS. equities analysts anticipate that Simon Property Group, Inc. will post 11.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given 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 an increase from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is 127.21%.

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

About Simon Property Group

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.

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

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