Strategic Blueprint LLC Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Strategic Blueprint LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,860 shares of the real estate investment trust's stock, valued at approximately $1,139,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the 4th quarter worth $28,000. Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group in the 4th quarter worth $31,000. Continuum Advisory LLC grew its position 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 in the last quarter. TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $34,000. Finally, Colonial Trust Co SC grew its position 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 in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel acquired 234 shares of the company's stock in a transaction 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 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction on Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,386 shares of company stock worth $380,066. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $166.47 on Friday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The stock has a market capitalization of $54.34 billion, a P/E ratio of 26.51, a PEG ratio of 9.30 and a beta of 1.43. The firm has a fifty day simple moving average of $160.86 and a two-hundred day simple moving average of $166.38. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29.

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

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPG. Barclays initiated coverage on Simon Property Group in a research report on Wednesday. They set an "equal weight" rating and a $170.00 target price for the company. 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 note on Tuesday, June 17th. Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Stifel Nicolaus raised their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Mizuho cut their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $178.50.

About Simon Property Group

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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