PNC Financial Services Group Inc. Buys 25,987 Shares of Simon Property Group, Inc. (NYSE:SPG)

PNC Financial Services Group Inc. grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 361,893 shares of the real estate investment trust's stock after buying an additional 25,987 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.11% of Simon Property Group worth $62,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SPG. Childress Capital Advisors LLC grew its stake in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. grew its stake in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 59 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust's stock valued at $273,000 after purchasing an additional 61 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock valued at $1,074,000 after purchasing an additional 62 shares during the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust's stock valued at $270,000 after purchasing an additional 65 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

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Simon Property Group Trading Up 1.5 %

NYSE SPG traded up $2.47 during trading hours on Wednesday, hitting $165.95. The company's stock had a trading volume of 1,951,062 shares, compared to its average volume of 1,338,635. The stock has a fifty day moving average of $177.62 and a 200 day moving average of $174.54. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The firm has a market capitalization of $54.15 billion, a P/E ratio of 22.86, a PEG ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.06%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average target price of $180.33.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the business's stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.50% of the company's stock.

About Simon Property Group

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.