MGO One Seven LLC Grows Holdings in Simon Property Group, Inc. (NYSE:SPG)

Key Points

• MGO One Seven LLC increased its holdings in Simon Property Group, Inc. by 622.9% to a total of 26,719 shares worth approximately $4.44 million as of the latest SEC filing.
• Institutional investors own 93.01% of Simon Property Group's stock, indicating strong institutional interest in the real estate investment trust.
• Simon Property Group recently declared a quarterly dividend of $2.10, leading to an annualized dividend of $8.40 and a yield of 5.1%.

MGO One Seven LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 622.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,719 shares of the real estate investment trust's stock after buying an additional 23,023 shares during the period. MGO One Seven LLC's holdings in Simon Property Group were worth $4,437,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SPG. Park Square Financial Group LLC raised its holdings in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares during the period. Richardson Financial Services Inc. increased its holdings in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC increased its holdings in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 156 shares during the period. Colonial Trust Co SC increased its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 95 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Up 3.1%

SPG stock traded up $5.06 during trading on Tuesday, reaching $169.00. The stock had a trading volume of 1,327,257 shares, compared to its average volume of 1,631,348. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. The company's 50 day moving average is $162.03 and its two-hundred day moving average is $164.99. The company has a market capitalization of $55.16 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 10.85 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the company earned $2.90 earnings per share. The company's quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS 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 given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 5.1%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Analyst Upgrades and Downgrades

SPG has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price target on the stock. Scotiabank raised their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Stifel Nicolaus cut their target price on shares of Simon Property Group from $180.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Barclays initiated coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $182.64.

Insider Activity

In other news, Director Glyn Aeppel purchased 234 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben S. Leibowitz acquired 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,386 shares of company stock worth $380,066. 8.60% of the stock is currently owned by insiders.

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.