MML Investors Services LLC boosted its holdings in Simon Property Group Inc (NYSE:SPG) by 17.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,999 shares of the real estate investment trust’s stock after purchasing an additional 727 shares during the quarter. MML Investors Services LLC’s holdings in Simon Property Group were worth $911,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Simon Property Group by 2.5% in the 4th quarter. BlackRock Inc. now owns 31,228,680 shares of the real estate investment trust’s stock valued at $5,246,108,000 after buying an additional 763,535 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Simon Property Group by 33,036.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,272,633 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 11,238,614 shares in the last quarter. FMR LLC raised its position in shares of Simon Property Group by 19.8% in the 4th quarter. FMR LLC now owns 8,049,529 shares of the real estate investment trust’s stock valued at $1,352,241,000 after buying an additional 1,331,005 shares in the last quarter. Northern Trust Corp raised its position in shares of Simon Property Group by 6.3% in the 4th quarter. Northern Trust Corp now owns 5,794,517 shares of the real estate investment trust’s stock valued at $973,422,000 after buying an additional 344,212 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Simon Property Group by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock valued at $790,441,000 after buying an additional 507,345 shares in the last quarter. Institutional investors own 95.73% of the company’s stock.
In related news, insider John Rulli sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the transaction, the insider now directly owns 29,646 shares in the company, valued at approximately $5,222,735.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.75% of the stock is owned by corporate insiders.
SPG stock opened at $162.92 on Friday. The company has a market cap of $50.62 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.98 and a beta of 0.56. Simon Property Group Inc has a 1 year low of $159.69 and a 1 year high of $191.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34.
Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.02. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.00 EPS. As a group, research analysts expect that Simon Property Group Inc will post 12.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Thursday, May 16th. Simon Property Group’s dividend payout ratio is 67.60%.
Several brokerages have recently commented on SPG. Deutsche Bank dropped their target price on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. Barclays reiterated a “buy” rating and set a $202.00 price objective on shares of Simon Property Group in a research report on Tuesday, April 16th. Finally, Mizuho cut shares of Simon Property Group to a “hold” rating and set a $193.00 price objective for the company. in a research report on Tuesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $192.00.
TRADEMARK VIOLATION WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2019/06/15/mml-investors-services-llc-has-911000-holdings-in-simon-property-group-inc-nysespg.html.
Simon Property Group Company 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.
Recommended Story: Why do companies pay special dividends?
Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.