Two Sigma Advisers LP boosted its holdings in Simon Property Group Inc (NYSE:SPG) by 31.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,400 shares of the real estate investment trust’s stock after acquiring an additional 34,600 shares during the quarter. Two Sigma Advisers LP’s holdings in Simon Property Group were worth $24,628,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SPG. Parallel Advisors LLC raised its holdings in Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 317 shares during the period. RFG Advisory Group LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $200,000. Partnervest Advisory Services LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $204,000. Murphy Capital Management Inc. acquired a new stake in Simon Property Group during the 4th quarter worth about $206,000. Finally, Advisory Services Network LLC raised its holdings in Simon Property Group by 822.4% during the 4th quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 1,102 shares during the period. Hedge funds and other institutional investors own 94.77% of the company’s stock.
SPG has been the topic of several recent analyst reports. Zacks Investment Research upgraded Simon Property Group from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Raymond James Financial set a $185.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, December 3rd. Barclays cut their price objective on Simon Property Group from $190.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Boenning Scattergood restated a “buy” rating and set a $240.00 price objective on shares of Simon Property Group in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $190.54.
In related news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at approximately $393,765.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.42% of the company’s stock.
Simon Property Group stock opened at $157.13 on Monday. The firm has a market capitalization of $50,334.40, a PE ratio of 14.00, a PEG ratio of 2.01 and a beta of 0.58. Simon Property Group Inc has a twelve month low of $150.15 and a twelve month high of $176.17. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 5.87.
Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.12. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. sell-side analysts forecast that Simon Property Group Inc will post 12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date was Tuesday, February 13th. This represents a $7.80 annualized dividend and a dividend yield of 4.96%. Simon Property Group’s payout ratio is presently 124.80%.
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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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