People s United Financial Inc. lifted its stake in Simon Property Group Inc (NYSE:SPG) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,481 shares of the real estate investment trust’s stock after buying an additional 568 shares during the period. People s United Financial Inc.’s holdings in Simon Property Group were worth $3,443,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Simon Property Group in the 3rd quarter worth $154,000. Sowell Financial Services LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at about $818,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Simon Property Group by 2.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,235 shares of the real estate investment trust’s stock valued at $3,400,000 after purchasing an additional 453 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at about $510,000. Finally, United Services Automobile Association lifted its stake in shares of Simon Property Group by 34.6% in the third quarter. United Services Automobile Association now owns 155,290 shares of the real estate investment trust’s stock valued at $27,448,000 after purchasing an additional 39,921 shares during the period. 92.99% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:SPG opened at $184.39 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.14. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $191.16. The stock has a market cap of $59.29 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.42.
Simon Property Group (NYSE:SPG) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.07. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. On average, research analysts forecast that Simon Property Group Inc will post 12.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were issued a dividend of $2.00 per share. The ex-dividend date was Thursday, November 15th. This represents a $8.00 annualized dividend and a yield of 4.34%. Simon Property Group’s dividend payout ratio (DPR) is currently 71.36%.
In other Simon Property Group news, insider John Rulli sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total transaction of $1,119,120.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.64% of the company’s stock.
Several brokerages recently commented on SPG. Deutsche Bank set a $191.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research note on Friday, November 30th. Morgan Stanley set a $180.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research note on Tuesday, November 27th. Scotiabank set a $183.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research note on Monday, November 12th. Citigroup raised their price objective on shares of Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, October 30th. Finally, Raymond James raised their price objective on shares of Simon Property Group from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, October 29th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Buy” and a consensus target price of $193.27.
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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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