Bbva Compass Bancshares Inc. lessened its stake in shares of Simon Property Group Inc (NYSE:SPG) by 28.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,633 shares of the real estate investment trust’s stock after selling 657 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Simon Property Group were worth $289,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of SPG. Kaizen Advisory LLC lifted its stake in shares of Simon Property Group by 138.1% during the second quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 413 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in shares of Simon Property Group during the third quarter worth about $156,000. Peapack Gladstone Financial Corp acquired a new position in shares of Simon Property Group during the second quarter worth about $203,000. Cumberland Partners Ltd acquired a new position in shares of Simon Property Group during the second quarter worth about $204,000. Finally, Murphy Capital Management Inc. acquired a new position in shares of Simon Property Group during the second quarter worth about $205,000. Institutional investors own 92.69% of the company’s stock.
NYSE:SPG opened at $188.69 on Friday. 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 $189.16. The stock has a market capitalization of $58.82 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 2.50 and a beta of 0.40.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.07. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. As a group, equities research analysts predict that Simon Property Group Inc will post 12.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Thursday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is 71.36%.
SPG has been the topic of a number of recent research reports. Barclays boosted their price objective on Simon Property Group from $184.00 to $192.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 17th. Jefferies Financial Group restated a “$170.72” rating and set a $194.00 price objective on shares of Simon Property Group in a research note on Wednesday, July 18th. BMO Capital Markets restated a “buy” rating and set a $175.00 price objective on shares of Simon Property Group in a research note on Monday, July 30th. Wells Fargo & Co boosted their price objective on Simon Property Group from $175.00 to $183.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. Finally, Citigroup boosted their price objective on Simon Property Group from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $195.42.
In related news, insider John Rulli sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total value of $1,119,120.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.64% of the company’s stock.
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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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