AMP Capital Investors Ltd lessened its position in Simon Property Group Inc (NYSE:SPG) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,657,954 shares of the real estate investment trust’s stock after selling 67,461 shares during the period. Simon Property Group comprises about 1.5% of AMP Capital Investors Ltd’s portfolio, making the stock its 3rd largest holding. AMP Capital Investors Ltd owned 0.26% of Simon Property Group worth $266,946,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Simon Property Group by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 45,741,576 shares of the real estate investment trust’s stock valued at $7,399,158,000 after acquiring an additional 259,901 shares during the period. Capital World Investors grew its position in shares of Simon Property Group by 25.4% in the 2nd quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock valued at $3,362,667,000 after acquiring an additional 4,210,000 shares during the period. APG Asset Management US Inc. grew its position in shares of Simon Property Group by 3.2% in the 3rd quarter. APG Asset Management US Inc. now owns 7,493,740 shares of the real estate investment trust’s stock valued at $1,206,567,000 after acquiring an additional 235,200 shares during the period. Bank of New York Mellon Corp grew its position in shares of Simon Property Group by 13.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock valued at $1,067,204,000 after acquiring an additional 789,384 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Simon Property Group by 9.7% in the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after acquiring an additional 542,743 shares during the period. 47.60% of the stock is owned by institutional investors.
Simon Property Group Inc (SPG) traded down $0.92 during midday trading on Wednesday, reaching $162.75. 2,010,500 shares of the company’s stock were exchanged, compared to its average volume of 1,826,829. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. The company has a market cap of $104,711.16, a P/E ratio of 14.87, a P/E/G ratio of 2.21 and a beta of 0.62. Simon Property Group Inc has a 52-week low of $150.15 and a 52-week high of $188.10.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 EPS. research analysts forecast that Simon Property Group Inc will post 11.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a $1.85 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a yield of 4.55%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s payout ratio is currently 130.51%.
SPG has been the subject of a number of analyst reports. BidaskClub downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Barclays lifted their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. BMO Capital Markets assumed coverage on shares of Simon Property Group in a report on Monday, September 11th. They set an “outperform” rating and a $175.00 target price for the company. Finally, Argus reduced their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Simon Property Group currently has an average rating of “Buy” and an average price target of $191.11.
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Simon Property Group 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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