Janney Montgomery Scott LLC Has $11.88 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Janney Montgomery Scott LLC cut its position in Simon Property Group, Inc. (NYSE:SPG) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,990 shares of the real estate investment trust’s stock after selling 1,394 shares during the period. Janney Montgomery Scott LLC’s holdings in Simon Property Group were worth $11,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth about $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $42,000. Eastern Bank bought a new stake in Simon Property Group during the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $174.42 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $56.91 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a 50-day simple moving average of $176.69 and a two-hundred day simple moving average of $168.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.20 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 111.85%.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SPG shares. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $172.10.

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.