Victory Capital Management Inc. Decreases Position in Simon Property Group, Inc. (NYSE:SPG)

Victory Capital Management Inc. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 201,116 shares of the real estate investment trust's stock after selling 12,165 shares during the period. Victory Capital Management Inc. owned about 0.06% of Simon Property Group worth $33,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in Simon Property Group during the 4th quarter valued at approximately $2,059,505,000. Geode Capital Management LLC boosted its stake in shares of Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after purchasing an additional 230,982 shares during the last quarter. Northern Trust Corp grew its holdings in Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after purchasing an additional 1,718,398 shares during the period. JPMorgan Chase & Co. increased its position in shares of Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after buying an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Simon Property Group by 14.8% in the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after purchasing an additional 542,511 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of SPG stock traded down $0.74 on Thursday, hitting $165.00. 1,339,293 shares of the stock were exchanged, compared to its average volume of 1,372,087. The firm's 50 day moving average is $161.39 and its two-hundred day moving average is $165.52. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The firm has a market capitalization of $53.86 billion, a PE ratio of 26.27, a P/E/G ratio of 11.19 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $3.56 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.09%. Simon Property Group's payout ratio is currently 133.76%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock purchased 396 shares of Simon Property Group 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 $63,078.84. Following the completion of the purchase, the director directly owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,386 shares of company stock valued at $380,066. 8.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPG. JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Scotiabank lifted their price target 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. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price target on the stock. Barclays began coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective on the stock. Finally, Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $182.73.

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.