Hutchinson Capital Management CA Has $10.16 Million Stake in Simon Property Group Inc (SPG)

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Hutchinson Capital Management CA grew its stake in Simon Property Group Inc (NYSE:SPG) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,480 shares of the real estate investment trust’s stock after purchasing an additional 990 shares during the period. Simon Property Group makes up approximately 2.8% of Hutchinson Capital Management CA’s holdings, making the stock its 17th largest holding. Hutchinson Capital Management CA’s holdings in Simon Property Group were worth $10,160,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SPG. Kaizen Advisory LLC grew its position in Simon Property Group by 138.1% during the 2nd quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 413 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in Simon Property Group during the 3rd quarter worth approximately $156,000. Peapack Gladstone Financial Corp bought a new stake in Simon Property Group during the 2nd quarter worth approximately $203,000. Cumberland Partners Ltd bought a new stake in Simon Property Group during the 2nd quarter worth approximately $204,000. Finally, Murphy Capital Management Inc. bought a new stake in Simon Property Group during the 2nd quarter worth approximately $205,000. Institutional investors own 92.72% of the company’s stock.

In other Simon Property Group news, insider John Rulli sold 6,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total transaction of $1,119,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.64% of the stock is currently owned by corporate insiders.

NYSE:SPG opened at $183.71 on Thursday. Simon Property Group Inc has a 52-week low of $145.78 and a 52-week high of $188.21. The company has a debt-to-equity ratio of 6.14, a quick ratio of 1.13 and a current ratio of 1.12. The firm has a market cap of $60.14 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.55 and a beta of 0.53.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.07. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. On average, analysts expect that Simon Property Group Inc will post 12.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, November 15th. Simon Property Group’s dividend payout ratio is 71.36%.

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Simon Property Group from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America increased their price target on Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Raymond James increased their price target on Simon Property Group from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada increased their price target on Simon Property Group to $183.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 21st. Finally, Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $195.42.

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.

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

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