Alps Advisors Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,245 shares of the real estate investment trust’s stock after selling 1,645 shares during the period. Alps Advisors Inc.’s holdings in Simon Property Group were worth $2,616,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Thrivent Financial For Lutherans grew its holdings in Simon Property Group by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock valued at $28,021,000 after purchasing an additional 2,530 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Simon Property Group by 9.7% during the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after purchasing an additional 542,743 shares during the last quarter. Eaton Vance Management grew its holdings in Simon Property Group by 110.5% during the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after purchasing an additional 811,457 shares during the last quarter. Partners Value Investments LP purchased a new stake in Simon Property Group in the 2nd quarter valued at about $11,647,000. Finally, Koch Industries Inc. purchased a new stake in Simon Property Group in the 2nd quarter valued at about $456,000. Institutional investors own 95.24% of the company’s stock.
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Several equities research analysts have issued reports on SPG shares. BidaskClub cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Barclays PLC boosted their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating on shares of Simon Property Group in a research report on Tuesday, July 25th. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets assumed coverage on shares of Simon Property Group in a research report on Monday, September 11th. They issued an “outperform” rating and a $175.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $191.45.
Shares of Simon Property Group, Inc. (SPG) traded up $2.49 during trading on Friday, reaching $163.75. 2,832,300 shares of the company’s stock were exchanged, compared to its average volume of 1,787,313. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. Simon Property Group, Inc. has a twelve month low of $150.15 and a twelve month high of $189.25. The firm has a market cap of $104,762.34, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted $2.70 EPS. Simon Property Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities research analysts anticipate that Simon Property Group, Inc. will post 11.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be paid a dividend of $1.85 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a yield of 4.52%. Simon Property Group’s dividend payout ratio is presently 126.98%.
Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
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