Simon Property Group Inc (NYSE:SPG) SVP Steven K. Broadwater sold 621 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Simon Property Group Inc (NYSE:SPG) traded down $0.55 on Wednesday, reaching $164.98. 1,322,100 shares of the company were exchanged, compared to its average volume of 1,840,000. The firm has a market capitalization of $52,790.00, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. Simon Property Group Inc has a fifty-two week low of $150.15 and a fifty-two week high of $187.35. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93.
Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 earnings per share. analysts predict that Simon Property Group Inc will post 11.21 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of SPG. Parallel Advisors LLC increased its holdings in Simon Property Group by 69.7% during the third quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 317 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Simon Property Group by 27.3% during the second 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 last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Simon Property Group by 0.7% during the second 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 last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Simon Property Group by 791.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 4,843 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Simon Property Group in the third quarter valued at $204,000. Institutional investors and hedge funds own 47.38% of the company’s stock.
A number of research analysts have weighed in on SPG shares. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. Mizuho set a $183.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, October 29th. BMO Capital Markets set a $175.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Argus cut their price objective on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $191.11.
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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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