American Century Companies Inc. Sells 152,260 Shares of Simon Property Group, Inc. $SPG

Key Points

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American Century Companies Inc. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 533,233 shares of the real estate investment trust's stock after selling 152,260 shares during the quarter. American Century Companies Inc. owned 0.16% of Simon Property Group worth $88,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SPG. Brighton Jones LLC bought a new stake in Simon Property Group during the fourth quarter worth about $295,000. XTX Topco Ltd bought a new stake in Simon Property Group during the fourth quarter worth about $539,000. Bridgewater Associates LP bought a new stake in Simon Property Group during the fourth quarter worth about $203,000. NewEdge Advisors LLC lifted its position in Simon Property Group by 88.4% during the fourth quarter. NewEdge Advisors LLC now owns 25,363 shares of the real estate investment trust's stock worth $4,368,000 after purchasing an additional 11,898 shares during the period. Finally, Marshall Wace LLP lifted its position in Simon Property Group by 243.6% during the fourth quarter. Marshall Wace LLP now owns 12,549 shares of the real estate investment trust's stock worth $2,161,000 after purchasing an additional 8,897 shares during the period. Institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SPG shares. Scotiabank upped their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Mizuho dropped their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Finally, Stifel Nicolaus set a $179.00 target price on shares of Simon Property Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $182.64.

Simon Property Group Stock Performance

Simon Property Group stock opened at $173.18 on Monday. The business has a 50 day moving average of $163.30 and a 200-day moving average of $164.62. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $56.54 billion, a P/E ratio of 26.77, a P/E/G ratio of 11.59 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $2.15 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's payout ratio is currently 129.83%.

Insider Buying and Selling

In other news, Director Glyn Aeppel acquired 234 shares of the stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the purchase, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel C. Smith acquired 378 shares of the stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $60,211.62. Following the purchase, the director directly owned 31,998 shares of the company's stock, valued at $5,096,961.42. This trade represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,428 shares of company stock valued at $387,271 over the last three months. Insiders own 8.60% of the company's stock.

Simon Property Group 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.

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