Brown Lisle Cummings Inc. Sells 77 Shares of Simon Property Group, Inc. (NYSE:SPG)

Brown Lisle Cummings Inc. trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,328 shares of the real estate investment trust’s stock after selling 77 shares during the period. Brown Lisle Cummings Inc.’s holdings in Simon Property Group were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Los Angeles Capital Management LLC boosted its stake in shares of Simon Property Group by 11.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 4,524 shares of the real estate investment trust’s stock worth $708,000 after buying an additional 481 shares during the last quarter. Park Avenue Securities LLC boosted its position in Simon Property Group by 4.5% in the first quarter. Park Avenue Securities LLC now owns 14,186 shares of the real estate investment trust’s stock worth $2,220,000 after purchasing an additional 617 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Simon Property Group by 8.1% during the 1st quarter. Ballentine Partners LLC now owns 4,238 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 316 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Simon Property Group in the first quarter worth approximately $4,107,000. Finally, Gilman Hill Asset Management LLC grew its position in Simon Property Group by 10.4% during the first quarter. Gilman Hill Asset Management LLC now owns 5,026 shares of the real estate investment trust’s stock valued at $787,000 after buying an additional 475 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho lifted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Stock Up 1.5 %

Shares of NYSE:SPG opened at $176.92 on Monday. The company has a market cap of $57.67 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 9.41 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $104.05 and a 12 month high of $177.08. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a 50-day moving average price of $165.93 and a 200 day moving average price of $154.66.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the firm posted $2.88 EPS. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio is 104.46%.

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.