Global Endowment Management LP trimmed its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 43.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,500 shares of the real estate investment trust’s stock after selling 8,000 shares during the period. Global Endowment Management LP’s holdings in Simon Property Group were worth $1,804,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its position 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 valued at $124,000 after buying an additional 317 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Simon Property Group by 791.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 4,843 shares during the last quarter. RFG Advisory Group LLC purchased a new position in Simon Property Group in the 4th quarter valued at about $200,000. Ausdal Financial Partners Inc. purchased a new position in Simon Property Group in the 3rd quarter valued at about $204,000. Finally, Partnervest Advisory Services LLC purchased a new position in Simon Property Group in the 4th quarter valued at about $204,000. 46.99% of the stock is owned by institutional investors.
A number of research firms have weighed in on SPG. Zacks Investment Research cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. ValuEngine cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Boenning Scattergood reissued a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a research report on Thursday, February 1st. Barclays reissued a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research report on Wednesday, January 31st. Finally, Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research report on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $191.11.
In related news, CAO Steven K. Broadwater sold 621 shares of the stock in a transaction dated Friday, December 29th. The shares were 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 in the company, valued at $393,765.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.42% of the stock is owned by corporate insiders.
Simon Property Group Inc (NYSE:SPG) opened at $154.03 on Friday. 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 cap of $96,797.20, a PE ratio of 13.48, a PEG ratio of 1.92 and a beta of 0.55.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting the consensus estimate of $3.12. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $1.26 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. research analysts forecast that Simon Property Group Inc will post 12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a dividend of $1.95 per share. 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 annualized dividend and a yield of 5.06%. Simon Property Group’s dividend payout ratio is 124.80%.
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Simon Property Group 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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