Partners Value Investments LP acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 72,000 shares of the real estate investment trust’s stock, valued at approximately $11,647,000. Simon Property Group comprises about 1.9% of Partners Value Investments LP’s holdings, making the stock its 7th biggest holding.
Other hedge funds have also added to or reduced their stakes in the company. Rockefeller Financial Services Inc. acquired a new position in Simon Property Group in the 1st quarter valued at $138,000. Geneva Advisors LLC grew its stake in shares of Simon Property Group by 4.0% during the 1st quarter. Geneva Advisors LLC now owns 2,859 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 109 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth $224,000. OLD National Bancorp IN grew its stake in shares of Simon Property Group by 5.7% during the 1st quarter. OLD National Bancorp IN now owns 1,840 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 100 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Simon Property Group by 211.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 14,584 shares of the real estate investment trust’s stock worth $2,509,000 after purchasing an additional 9,899 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.
Shares of Simon Property Group, Inc. (NYSE:SPG) opened at 164.77 on Friday. The company has a market capitalization of $51.22 billion, a P/E ratio of 29.37 and a beta of 0.58. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $215.56. The firm has a 50 day moving average price of $159.43 and a 200 day moving average price of $163.10.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $2.63 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 4.37%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date was Tuesday, August 15th. Simon Property Group’s payout ratio is presently 127.89%.
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Several research firms recently commented on SPG. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Argus cut their price objective on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. BMO Capital Markets started coverage on shares of Simon Property Group in a research report on Monday, September 11th. They set an “outperform” rating and a $175.00 target price for the company. Barclays PLC increased their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $193.76.
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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