Connor Clark & Lunn Investment Management Ltd. Buys 11,450 Shares of Simon Property Group Inc (NYSE:SPG)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Simon Property Group Inc (NYSE:SPG) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,775 shares of the real estate investment trust’s stock after buying an additional 11,450 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Simon Property Group worth $28,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Simon Property Group by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock worth $790,441,000 after purchasing an additional 507,345 shares in the last quarter. Brinker Capital Inc. lifted its position in shares of Simon Property Group by 8.4% during the first quarter. Brinker Capital Inc. now owns 3,524 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 274 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Simon Property Group in the first quarter valued at $250,000. Oppenheimer Asset Management Inc. grew its holdings in Simon Property Group by 11.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,789 shares of the real estate investment trust’s stock valued at $1,237,000 after purchasing an additional 677 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Simon Property Group by 11.5% in the 1st quarter. Bank of Montreal Can now owns 527,085 shares of the real estate investment trust’s stock worth $96,040,000 after buying an additional 54,151 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SPG opened at $161.22 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 7.02. The firm’s 50-day simple moving average is $152.78 and its 200 day simple moving average is $167.36. Simon Property Group Inc has a fifty-two week low of $145.42 and a fifty-two week high of $191.49. The stock has a market cap of $48.73 billion, a P/E ratio of 13.29, a P/E/G ratio of 2.90 and a beta of 0.54.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.98 EPS. On average, sell-side analysts anticipate that Simon Property Group Inc will post 12.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is presently 69.25%.

SPG has been the topic of a number of analyst reports. Citigroup dropped their target price on Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. ValuEngine downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Morgan Stanley decreased their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. SunTrust Banks decreased their target price on Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Finally, Deutsche Bank dropped their price target on Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $186.58.

Simon Property Group Company 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.

Further Reading: Stock Symbols Definition, Examples, Lookup

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.