Capital Investment Advisors LLC Boosts Stock Position in Simon Property Group Inc (NYSE:SPG)

Capital Investment Advisors LLC increased its stake in Simon Property Group Inc (NYSE:SPG) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,174 shares of the real estate investment trust’s stock after buying an additional 1,570 shares during the period. Capital Investment Advisors LLC’s holdings in Simon Property Group were worth $6,258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SPG. Global Retirement Partners LLC boosted its stake in Simon Property Group by 150.0% during the 1st quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Marino Stram & Associates LLC purchased a new stake in Simon Property Group during the 1st quarter valued at $32,000. Legacy Advisors LLC purchased a new stake in Simon Property Group during the 1st quarter valued at $36,000. Icon Wealth Partners LLC purchased a new stake in Simon Property Group during the 1st quarter valued at $51,000. Finally, Truvestments Capital LLC purchased a new stake in Simon Property Group during the 1st quarter valued at $53,000. Institutional investors own 95.62% of the company’s stock.

Simon Property Group stock traded down $0.40 during trading on Friday, reaching $157.92. The company had a trading volume of 992,830 shares, compared to its average volume of 1,411,090. Simon Property Group Inc has a 52 week low of $155.04 and a 52 week high of $191.49. The business’s 50-day moving average is $161.91. The stock has a market capitalization of $48.92 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.89 and a beta of 0.52. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.02. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $2.00 EPS. Simon Property Group’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Simon Property Group Inc will post 12.38 EPS for the current year.

Several analysts have commented on the company. Citigroup reiterated a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research note on Monday, June 3rd. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley restated an “overweight” rating on shares of in a research note on Thursday, June 20th. Finally, Deutsche Bank set a $60.00 price target on Taubman Centers and gave the stock a “hold” rating in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $190.07.

In related news, insider John Rulli sold 9,160 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total value of $1,613,717.20. Following the transaction, the insider now directly owns 29,646 shares of the company’s stock, valued at approximately $5,222,735.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.75% of the stock is currently owned by company insiders.

Simon Property Group Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

See Also: Why do companies pay special dividends?

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.