Nisa Investment Advisors LLC raised its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,761 shares of the real estate investment trust’s stock after purchasing an additional 17,172 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Simon Property Group were worth $19,881,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial For Lutherans lifted its position in Simon Property Group by 1.5% during the second 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. Koch Industries Inc. purchased a new stake in shares of Simon Property Group in the second quarter valued at $456,000. Artisan Partners Limited Partnership purchased a new stake in shares of Simon Property Group in the third quarter valued at $41,999,000. Profund Advisors LLC raised its stake in shares of Simon Property Group by 17.8% in the second quarter. Profund Advisors LLC now owns 19,657 shares of the real estate investment trust’s stock valued at $3,180,000 after acquiring an additional 2,977 shares during the period. Finally, Milestone Group Inc. raised its stake in shares of Simon Property Group by 75.1% in the third quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock valued at $375,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 47.59% of the company’s stock.
SPG has been the topic of several recent analyst reports. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reissued a “hold” rating and issued a $170.00 target price on shares of Simon Property Group in a research note on Thursday, October 12th. Barclays reaffirmed a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a research note on Wednesday. Finally, Raymond James Financial set a $185.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Sunday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $191.11.
Shares of Simon Property Group Inc (SPG) traded down $3.13 during trading on Friday, reaching $156.52. 3,160,671 shares of the company’s stock traded hands, compared to its average volume of 1,795,090. Simon Property Group Inc has a one year low of $150.15 and a one year high of $187.35. The company has a market cap of $100,136.80, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.98 and a beta of 0.55. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 5.87.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.12. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $1.26 EPS. The company’s revenue was up .1% compared to the same quarter last year. research analysts predict that Simon Property Group Inc will post 12.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Tuesday, February 13th. Simon Property Group’s dividend payout ratio (DPR) is currently 118.40%.
In other news, CAO Steven K. Broadwater sold 621 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $171.95, for a total value of $106,780.95. Following the sale, the chief accounting officer now directly owns 2,290 shares in the company, valued at approximately $393,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.42% of the stock is currently owned by company insiders.
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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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