Investors Buy Shares of Simon Property Group (SPG) on Weakness

Investors bought shares of Simon Property Group Inc (NYSE:SPG) on weakness during trading on Monday. $104.13 million flowed into the stock on the tick-up and $74.80 million flowed out of the stock on the tick-down, for a money net flow of $29.33 million into the stock. Of all equities tracked, Simon Property Group had the 16th highest net in-flow for the day. Simon Property Group traded down ($0.40) for the day and closed at $156.80

Several brokerages have weighed in on SPG. Zacks Investment Research downgraded Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Boenning Scattergood reissued a “buy” rating and issued a $240.00 price target on shares of Simon Property Group in a report on Thursday, February 1st. Raymond James Financial set a $185.00 price target on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, December 3rd. Barclays reissued a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a report on Wednesday, January 31st. Finally, ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One investment 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. The company has a consensus rating of “Buy” and an average target price of $191.11.

The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 5.87. The company has a market cap of $49,750.00, a price-to-earnings ratio of 24.92, a PEG ratio of 2.00 and a beta of 0.55.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. equities research analysts anticipate that Simon Property Group Inc will post 11.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Tuesday, February 13th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio is 118.59%.

In other news, CAO Steven K. Broadwater sold 621 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the transaction, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at approximately $393,765.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.42% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 317 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in 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 period. RFG Advisory Group LLC purchased a new stake in Simon Property Group during the 4th quarter worth about $200,000. Ausdal Financial Partners Inc. purchased a new stake in Simon Property Group during the 3rd quarter worth about $204,000. Finally, Partnervest Advisory Services LLC purchased a new stake in Simon Property Group during the 4th quarter worth about $204,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

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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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