Gateway Investment Advisers LLC lessened its stake in shares of Simon Property Group Inc (NYSE:SPG) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,155 shares of the real estate investment trust’s stock after selling 2,191 shares during the period. Gateway Investment Advisers LLC’s holdings in Simon Property Group were worth $3,118,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. National Pension Service boosted its position in Simon Property Group by 5.5% during the fourth quarter. National Pension Service now owns 288,410 shares of the real estate investment trust’s stock worth $49,532,000 after purchasing an additional 14,956 shares during the period. Wasatch Advisors Inc. boosted its position in Simon Property Group by 32.3% during the fourth quarter. Wasatch Advisors Inc. now owns 3,685 shares of the real estate investment trust’s stock worth $633,000 after purchasing an additional 900 shares during the period. Bank of Montreal Can boosted its position in Simon Property Group by 36.6% during the fourth quarter. Bank of Montreal Can now owns 442,547 shares of the real estate investment trust’s stock worth $76,003,000 after purchasing an additional 118,485 shares during the period. YHB Investment Advisors Inc. lifted its holdings in shares of Simon Property Group by 4.1% during the fourth quarter. YHB Investment Advisors Inc. now owns 10,331 shares of the real estate investment trust’s stock worth $1,774,000 after buying an additional 409 shares during the last quarter. Finally, Factory Mutual Insurance Co. lifted its holdings in shares of Simon Property Group by 1.5% during the fourth quarter. Factory Mutual Insurance Co. now owns 325,644 shares of the real estate investment trust’s stock worth $55,925,000 after buying an additional 4,900 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.
In other news, CAO Steven K. Broadwater sold 621 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. Following the sale, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at $393,765.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.42% of the company’s stock.
SPG has been the subject of a number of research analyst reports. Argus cut their price target on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. BMO Capital Markets set a $175.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Friday, October 27th. Royal Bank of Canada restated a “hold” rating and issued a $176.00 target price on shares of Simon Property Group in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Simon Property Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. 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 has a consensus rating of “Buy” and a consensus target price of $191.11.
Shares of Simon Property Group Inc (NYSE SPG) traded down $1.40 on Wednesday, reaching $154.09. The company’s stock had a trading volume of 2,090,000 shares, compared to its average volume of 2,090,000. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.93 and a current ratio of 1.75. Simon Property Group Inc has a 12-month low of $150.15 and a 12-month high of $187.35. The company has a market capitalization of $49,300.00, a PE ratio of 24.69, a P/E/G ratio of 2.00 and a beta of 0.55.
Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate 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 company’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. equities analysts expect 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 given a dividend of $1.95 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.06%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio (DPR) is currently 118.59%.
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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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