Norinchukin Bank The lifted its position in shares of Simon Property Group Inc (NYSE:SPG) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,609 shares of the real estate investment trust’s stock after purchasing an additional 1,697 shares during the quarter. Norinchukin Bank The’s holdings in Simon Property Group were worth $6,974,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in shares of Simon Property Group by 2.2% during the fourth quarter. American International Group Inc. now owns 134,109 shares of the real estate investment trust’s stock valued at $23,032,000 after purchasing an additional 2,897 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $790,000. TCW Group Inc. boosted its position in shares of Simon Property Group by 1.5% during the fourth quarter. TCW Group Inc. now owns 148,839 shares of the real estate investment trust’s stock valued at $25,561,000 after purchasing an additional 2,246 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Simon Property Group by 51.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 12,696 shares of the real estate investment trust’s stock valued at $2,180,000 after purchasing an additional 4,325 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of Simon Property Group by 10.5% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,062 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 387 shares in the last quarter. Institutional investors own 46.99% of the company’s stock.
In other news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the transaction, the chief accounting officer now owns 2,290 shares in the company, valued at $393,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.42% of the stock is owned by insiders.
Simon Property Group Inc (NYSE:SPG) opened at $156.09 on Monday. The stock has a market capitalization of $99,861.70, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.98 and a beta of 0.55. Simon Property Group Inc has a one year low of $150.15 and a one year high of $187.35. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.93 and a current ratio of 1.75.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $3.12. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. equities research analysts forecast that Simon Property Group Inc will post 12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a dividend of $1.95 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date is Tuesday, February 13th. This represents a $7.80 dividend on an annualized basis and a yield of 5.00%. Simon Property Group’s payout ratio is presently 124.80%.
SPG has been the topic of several research reports. SunTrust Banks set a $170.00 price target on Simon Property Group and gave the company a “hold” rating in a research report on Sunday, October 29th. Royal Bank of Canada restated a “hold” rating and set a $176.00 price target on shares of Simon Property Group in a research report on Thursday, November 2nd. Argus dropped their price target on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets set a $175.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Simon Property Group has an average rating of “Buy” and an average target price of $191.11.
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Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
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