AGF Management Ltd. Buys 760 Shares of Simon Property Group, Inc. (NYSE:SPG)

AGF Management Ltd. increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the real estate investment trust’s stock after purchasing an additional 760 shares during the quarter. AGF Management Ltd.’s holdings in Simon Property Group were worth $2,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPG. Wilmington Savings Fund Society FSB bought a new position in Simon Property Group in the third quarter valued at about $834,000. First Hawaiian Bank grew its position in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $416,000. 93.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

NYSE:SPG opened at $161.13 on Friday. The firm has a market capitalization of $52.57 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The business has a 50 day simple moving average of $177.03 and a 200-day simple moving average of $174.39. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.21%. Simon Property Group’s payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $180.33.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.