Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Lessened by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,094 shares of the real estate investment trust’s stock after selling 21,662 shares during the period. Mackenzie Financial Corp’s holdings in Simon Property Group were worth $23,695,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPG. Orion Portfolio Solutions LLC grew its holdings in shares of Simon Property Group by 12.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 9,217 shares of the real estate investment trust’s stock valued at $1,311,000 after acquiring an additional 997 shares in the last quarter. TD Asset Management Inc boosted its position in Simon Property Group by 9.1% during the fourth quarter. TD Asset Management Inc now owns 118,933 shares of the real estate investment trust’s stock valued at $16,965,000 after purchasing an additional 9,887 shares during the last quarter. Fiduciary Trust Co purchased a new position in Simon Property Group in the fourth quarter valued at about $218,000. Avestar Capital LLC acquired a new position in Simon Property Group in the 4th quarter worth about $248,000. Finally, Scotia Capital Inc. increased its position in Simon Property Group by 14.0% in the 4th quarter. Scotia Capital Inc. now owns 7,397 shares of the real estate investment trust’s stock worth $1,055,000 after purchasing an additional 910 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $167.71 on Friday. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $170.87. The company has a fifty day simple moving average of $160.77 and a 200 day simple moving average of $152.76. 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 market cap of $54.68 billion, a P/E ratio of 21.36, a P/E/G ratio of 9.32 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $2.88 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, September 9th. Simon Property Group’s payout ratio is currently 104.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Scotiabank boosted their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.

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.