Hamlin Capital Management LLC Purchases New Shares in Simon Property Group, Inc. (NYSE:SPG)

Hamlin Capital Management LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 635,289 shares of the real estate investment trust's stock, valued at approximately $109,403,000. Simon Property Group comprises 2.7% of Hamlin Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. Hamlin Capital Management LLC owned 0.19% of Simon Property Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Simon Property Group in the third quarter valued at about $30,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at about $42,000. Eastern Bank bought a new position in shares of Simon Property Group in the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC purchased a new position in shares of Simon Property Group in the third quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Simon Property Group by 107.5% during 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 during the period. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were 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 in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is owned by company insiders.

Simon Property Group Price Performance

NYSE SPG traded up $1.74 during trading hours on Tuesday, reaching $175.88. The company's stock had a trading volume of 1,078,126 shares, compared to its average volume of 1,404,685. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. 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 company has a market capitalization of $57.39 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 9.33 and a beta of 1.75. The firm's 50-day moving average price is $177.05 and its 200-day moving average price is $168.15.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $3.20 EPS. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.78%. 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 payout ratio is 111.85%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPG. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Finally, StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and an average price target of $172.10.

Simon Property Group Company 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.