Man Group plc lowered its position in Simon Property Group Inc (NYSE:SPG) by 63.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,223 shares of the real estate investment trust’s stock after selling 422,510 shares during the quarter. Man Group plc owned approximately 0.08% of Simon Property Group worth $36,528,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of SPG. Noked Israel Ltd acquired a new position in Simon Property Group in the 4th quarter valued at $238,000. Psagot Investment House Ltd. increased its stake in Simon Property Group by 1,015.6% in the 4th quarter. Psagot Investment House Ltd. now owns 6,805 shares of the real estate investment trust’s stock valued at $1,014,000 after buying an additional 6,195 shares during the period. Baird Financial Group Inc. increased its stake in Simon Property Group by 34.0% in the 4th quarter. Baird Financial Group Inc. now owns 166,118 shares of the real estate investment trust’s stock valued at $24,745,000 after buying an additional 42,136 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Simon Property Group by 49.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,261 shares of the real estate investment trust’s stock valued at $3,140,000 after buying an additional 7,681 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Simon Property Group by 20.1% in the 4th quarter. Advisors Asset Management Inc. now owns 67,705 shares of the real estate investment trust’s stock valued at $10,085,000 after buying an additional 11,337 shares during the period. Institutional investors own 91.94% of the company’s stock.
SPG has been the topic of several recent research reports. Deutsche Bank raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, March 18th. Cfra dropped their price objective on shares of Simon Property Group from $145.00 to $120.00 and set a “sell” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group cut shares of Simon Property Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $162.00 to $109.00 in a research note on Tuesday, March 10th. Citigroup dropped their price objective on shares of Simon Property Group from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut shares of Simon Property Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $162.00 in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $146.46.
In other Simon Property Group news, CEO David Simon acquired 150,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were purchased at an average cost of $60.83 per share, with a total value of $9,124,500.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Reuben S. Leibowitz acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average cost of $64.88 per share, for a total transaction of $97,320.00. Following the completion of the purchase, the director now owns 35,434 shares in the company, valued at approximately $2,298,957.92. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 350,072 shares of company stock worth $19,745,593. 8.75% of the stock is owned by corporate insiders.
NYSE:SPG opened at $62.34 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 8.42. Simon Property Group Inc has a fifty-two week low of $43.52 and a fifty-two week high of $186.40. The stock has a market cap of $17.54 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63. The firm’s fifty day simple moving average is $114.02 and its 200-day simple moving average is $140.51.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.95 by ($1.29). Simon Property Group had a return on equity of 65.24% and a net margin of 36.52%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $3.23 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Simon Property Group Inc will post 12.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $2.10 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $8.40 dividend on an annualized basis and a yield of 13.47%. Simon Property Group’s payout ratio is 69.77%.
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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