Wasatch Advisors Inc. raised its position in Simon Property Group Inc (NYSE:SPG) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,685 shares of the real estate investment trust’s stock after buying an additional 900 shares during the period. Wasatch Advisors Inc.’s holdings in Simon Property Group were worth $633,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SPG. Parallel Advisors LLC boosted its holdings in Simon Property Group by 69.7% in the 3rd 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. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings 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 purchasing an additional 7 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Simon Property Group by 791.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 4,843 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $204,000. Finally, Probity Advisors Inc. acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $211,000. Institutional investors own 47.57% of the company’s stock.
Several research analysts have recently weighed in on SPG shares. Argus lowered their target price on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. BMO Capital Markets set a $175.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada restated a “hold” rating and set a $176.00 target price on shares of Simon Property Group in a report on Thursday, November 2nd. Finally, Raymond James Financial set a $185.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $191.11.
Simon Property Group Inc (NYSE:SPG) traded down $0.38 on Monday, reaching $156.80. The company had a trading volume of 2,340,000 shares, compared to its average volume of 2,040,000. Simon Property Group Inc has a 12-month low of $150.15 and a 12-month high of $187.35. The firm has a market capitalization of $50,170.00, a PE ratio of 25.13, a PEG ratio of 2.00 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.75 and a debt-to-equity ratio of 5.87.
Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, meeting analysts’ consensus estimates of $3.12. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. equities analysts predict that Simon Property Group Inc will post 12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a $1.95 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $7.80 dividend on an annualized basis and a yield of 4.97%. Simon Property Group’s payout ratio is presently 118.59%.
In other Simon Property Group news, SVP Steven K. Broadwater sold 621 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.42% of the stock is owned by 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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