State of Tennessee Treasury Department decreased its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,411 shares of the real estate investment trust’s stock after selling 4,539 shares during the period. State of Tennessee Treasury Department’s holdings in Simon Property Group were worth $34,419,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership bought a new position in Simon Property Group during the 3rd quarter valued at approximately $41,999,000. Milestone Group Inc. raised its position in 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 valued at $375,000 after purchasing an additional 1,000 shares during the last quarter. Advantus Capital Management Inc raised its position in 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 valued at $75,697,000 after purchasing an additional 7,344 shares during the last quarter. Prudential Financial Inc. raised its position in 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 valued at $213,854,000 after purchasing an additional 93,899 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its position in 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 valued at $635,000 after purchasing an additional 1,300 shares during the last quarter. 46.99% of the stock is owned by institutional investors and hedge funds.
Simon Property Group Inc (NYSE SPG) opened at $153.49 on Thursday. Simon Property Group Inc has a twelve month low of $150.15 and a twelve month high of $187.35. 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 firm has a market capitalization of $48,410.00, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.55.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share for the quarter, hitting the consensus estimate of $3.12. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $1.26 EPS. sell-side analysts expect that Simon Property Group Inc will post 12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $7.80 annualized dividend and a dividend yield of 5.08%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio is presently 125.00%.
A number of research analysts have commented on SPG shares. SunTrust Banks set a $170.00 price target on Simon Property Group and gave the company a “hold” rating in a research report on Sunday, October 29th. Royal Bank of Canada reaffirmed a “hold” rating and set a $176.00 price target on shares of Simon Property Group in a research report on Thursday, November 2nd. Argus lowered their price target on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets set a $175.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $191.11.
In related news, CAO Steven K. Broadwater sold 621 shares of the company’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. Following the sale, the chief accounting officer now 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 is accessible through this link. Corporate insiders own 8.42% of the company’s stock.
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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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