Gulf International Bank UK Ltd lifted its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 2.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 107,456 shares of the real estate investment trust’s stock after purchasing an additional 2,822 shares during the period. Gulf International Bank UK Ltd’s holdings in Simon Property Group were worth $18,992,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Virginia Retirement Systems ET AL raised its stake in shares of Simon Property Group by 1.6% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 430,677 shares of the real estate investment trust’s stock worth $76,122,000 after buying an additional 6,700 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Simon Property Group by 4.6% in the 3rd quarter. American Century Companies Inc. now owns 830,176 shares of the real estate investment trust’s stock worth $146,734,000 after acquiring an additional 36,203 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Simon Property Group by 15.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 52,234 shares of the real estate investment trust’s stock worth $9,233,000 after acquiring an additional 6,932 shares during the period. Commerce Bank grew its holdings in shares of Simon Property Group by 33.8% in the 3rd quarter. Commerce Bank now owns 3,099 shares of the real estate investment trust’s stock worth $548,000 after acquiring an additional 783 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Simon Property Group by 1.1% in the 3rd quarter. Wells Fargo & Company MN now owns 836,201 shares of the real estate investment trust’s stock worth $147,800,000 after acquiring an additional 9,385 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on SPG shares. Bank of America upped their price target on Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Jefferies Financial Group restated a “$170.72” rating and issued a $194.00 price target on shares of Simon Property Group in a report on Wednesday, July 18th. Scotiabank started coverage on Simon Property Group in a report on Tuesday, October 16th. They issued a “sector perform” rating on the stock. Argus upped their price target on Simon Property Group to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a report on Thursday, October 4th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Simon Property Group presently has a consensus rating of “Buy” and a consensus target price of $195.42.
Shares of NYSE:SPG opened at $183.15 on Tuesday. The firm has a market cap of $57.79 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.45 and a beta of 0.40. The company has a debt-to-equity ratio of 6.14, a quick ratio of 1.13 and a current ratio of 1.12. Simon Property Group Inc has a one year low of $145.78 and a one year high of $188.21.
Simon Property Group (NYSE:SPG) last announced its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. As a group, equities research analysts forecast that Simon Property Group Inc will post 12.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Thursday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is presently 71.36%.
In other Simon Property Group news, insider John Rulli sold 6,000 shares of the stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total transaction of $1,119,120.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.64% of the stock is currently owned by corporate insiders.
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Simon Property Group Profile
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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