California Public Employees Retirement System raised its stake in shares of Simon Property Group Inc (NYSE:SPG) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 777,320 shares of the real estate investment trust’s stock after buying an additional 19,065 shares during the quarter. California Public Employees Retirement System owned about 0.12% of Simon Property Group worth $125,156,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. grew its position in shares of Simon Property Group by 27.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares during the period. Highstreet Asset Management Inc. acquired a new position in shares of Simon Property Group during the 2nd quarter worth about $157,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 7 shares during the period. Boston Private Wealth LLC grew its position in shares of Simon Property Group by 5.3% during the 2nd quarter. Boston Private Wealth LLC now owns 1,261 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 63 shares during the period. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Simon Property Group during the 3rd quarter worth about $204,000. Institutional investors own 47.60% of the company’s stock.
SPG has been the subject of several analyst reports. SunTrust Banks set a $170.00 target price on Simon Property Group and gave the stock a “hold” rating in a research report on Sunday, October 29th. Stifel Nicolaus restated a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a research report on Thursday, October 12th. Argus cut their price objective on Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating and set a $176.00 price objective on shares of Simon Property Group in a report on Thursday, November 2nd. Finally, Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the company a “buy” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Simon Property Group has an average rating of “Buy” and a consensus price target of $191.11.
Simon Property Group Inc (NYSE:SPG) traded up $0.18 during trading hours on Monday, hitting $162.25. The stock had a trading volume of 1,423,700 shares, compared to its average volume of 1,820,044. The company has a market cap of $103,802.69, a PE ratio of 14.74, a PEG ratio of 2.19 and a beta of 0.62. 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 fifty-two week low of $150.15 and a fifty-two week high of $188.10.
Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 EPS. equities analysts anticipate that Simon Property Group Inc will post 11.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were paid a $1.85 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $7.40 annualized dividend and a yield of 4.56%. Simon Property Group’s payout ratio is presently 130.51%.
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About Simon Property Group
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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