Dynamic Advisors Solutions LLC bought a new position in shares of Simon Property Group Inc (NYSE:SPG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,580 shares of the real estate investment trust’s stock, valued at approximately $1,817,000.
Other institutional investors also recently modified their holdings of the company. Artisan Partners Limited Partnership acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $41,999,000. Milestone Group Inc. boosted its holdings in shares of Simon Property Group by 75.1% during the 3rd quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock worth $375,000 after purchasing an additional 1,000 shares during the last quarter. Advantus Capital Management Inc boosted its holdings in shares of Simon Property Group by 1.6% during the 3rd quarter. Advantus Capital Management Inc now owns 470,137 shares of the real estate investment trust’s stock worth $75,697,000 after purchasing an additional 7,344 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Simon Property Group by 7.6% during the 3rd quarter. Prudential Financial Inc. now owns 1,328,200 shares of the real estate investment trust’s stock worth $213,854,000 after purchasing an additional 93,899 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Simon Property Group by 49.1% during the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 3,946 shares of the real estate investment trust’s stock worth $635,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 46.99% of the company’s stock.
SPG has been the topic of several recent research reports. Boenning Scattergood restated a “buy” rating and set a $240.00 target price on shares of Simon Property Group in a report on Thursday, February 1st. Barclays reaffirmed a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a research report on Wednesday, January 31st. Mizuho set a $183.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research report on Sunday, October 29th. BMO Capital Markets set a $175.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, Argus reduced their price target 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. 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $191.11.
Shares of Simon Property Group Inc (NYSE:SPG) opened at $156.09 on Monday. The stock has a market capitalization of $99,861.70, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.98 and a beta of 0.55. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.75 and a quick ratio of 0.93. Simon Property Group Inc has a 12-month low of $150.15 and a 12-month high of $187.35.
Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.12. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. equities research analysts expect that Simon Property Group Inc will post 12 EPS 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 5.00%. Simon Property Group’s payout ratio is presently 124.80%.
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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