Traders Buy Simon Property Group (SPG) on Weakness

Investors bought shares of Simon Property Group Inc (NYSE:SPG) on weakness during trading hours on Monday. $134.42 million flowed into the stock on the tick-up and $82.75 million flowed out of the stock on the tick-down, for a money net flow of $51.67 million into the stock. Of all stocks tracked, Simon Property Group had the 28th highest net in-flow for the day. Simon Property Group traded down ($1.39) for the day and closed at $171.46

Several research analysts have commented on SPG shares. JPMorgan Chase & Co. downgraded shares of Simon Property Group from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 27th. Zacks Investment Research raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. ValuEngine downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $175.00 price target (down previously from $185.00) on shares of Simon Property Group in a report on Tuesday, May 1st. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $240.00 price target on shares of Simon Property Group in a report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $186.58.

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 5.93. The firm has a market cap of $55.37 billion, a P/E ratio of 15.30, a PEG ratio of 2.29 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.04. Simon Property Group had a net margin of 37.36% and a return on equity of 50.24%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $1.53 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. equities analysts predict that Simon Property Group Inc will post 12.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Thursday, May 17th were given a $1.94 dividend. This represents a $7.76 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Wednesday, May 16th. Simon Property Group’s dividend payout ratio (DPR) is currently 69.58%.

A number of institutional investors have recently bought and sold shares of SPG. Raymond James Financial Services Advisors Inc. raised its position in Simon Property Group by 4.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,048 shares of the real estate investment trust’s stock worth $3,271,000 after purchasing an additional 731 shares during the period. Virtu Financial LLC purchased a new stake in Simon Property Group in the 4th quarter worth about $256,000. Arrowstreet Capital Limited Partnership purchased a new stake in Simon Property Group in the 4th quarter worth about $790,000. Brown Advisory Inc. raised its position in Simon Property Group by 21.2% in the 4th quarter. Brown Advisory Inc. now owns 7,094 shares of the real estate investment trust’s stock worth $1,218,000 after purchasing an additional 1,242 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Simon Property Group by 13.4% in the 4th quarter. OppenheimerFunds Inc. now owns 58,816 shares of the real estate investment trust’s stock worth $10,101,000 after purchasing an additional 6,954 shares during the period. 92.15% of the stock is currently owned by institutional investors.

About Simon Property Group

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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