Capital Research Global Investors increased its holdings in Simon Property Group Inc (NYSE:SPG) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,808,787 shares of the real estate investment trust’s stock after buying an additional 503,606 shares during the period. Capital Research Global Investors owned about 3.06% of Simon Property Group worth $1,461,117,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Cohen & Steers Inc. increased its stake in shares of Simon Property Group by 23.7% during the 4th quarter. Cohen & Steers Inc. now owns 8,057,155 shares of the real estate investment trust’s stock worth $1,200,194,000 after purchasing an additional 1,542,349 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $183,636,000. Heitman Real Estate Securities LLC acquired a new stake in Simon Property Group during the fourth quarter worth approximately $111,978,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Simon Property Group by 55.1% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,084,873 shares of the real estate investment trust’s stock worth $310,563,000 after acquiring an additional 740,845 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Simon Property Group by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,796,278 shares of the real estate investment trust’s stock worth $416,534,000 after acquiring an additional 527,874 shares during the period. Institutional investors and hedge funds own 91.94% of the company’s stock.
Shares of SPG stock traded up $2.35 on Thursday, reaching $64.70. 3,503,421 shares of the stock were exchanged, compared to its average volume of 6,517,029. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 8.42. The stock has a market cap of $17.54 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63. The firm has a 50 day moving average of $114.02 and a two-hundred day moving average of $140.51. Simon Property Group Inc has a 1-year low of $43.52 and a 1-year high of $186.40.
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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.95 by ($1.29). Simon Property Group had a net margin of 36.52% and a return on equity of 65.24%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm posted $3.23 EPS. Simon Property Group’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Simon Property Group Inc will post 12.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $2.10 per share. The ex-dividend date was Thursday, February 13th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 12.98%. Simon Property Group’s dividend payout ratio is currently 69.77%.
In other Simon Property Group news, Director Reuben S. Leibowitz bought 1,500 shares of the stock in a transaction dated Tuesday, March 17th. The stock was bought 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 directly owns 35,434 shares of the company’s stock, valued at $2,298,957.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Herbert Simon bought 188,572 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $52.68 per share, for a total transaction of $9,933,972.96. Following the completion of the transaction, the chairman now owns 190,925 shares of the company’s stock, valued at approximately $10,057,929. The disclosure for this purchase can be found here. Insiders have bought 350,072 shares of company stock worth $19,745,593 in the last quarter. Insiders own 8.75% of the company’s stock.
Several research analysts have weighed in on the company. Wells Fargo & Co cut their price target on Simon Property Group from $168.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Stifel Nicolaus decreased their price objective on Simon Property Group from $160.00 to $150.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James lowered their price objective on Simon Property Group from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Deutsche Bank raised Simon Property Group from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Wednesday, March 18th. Finally, Citigroup dropped their target price on Simon Property Group from $160.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $146.46.
Simon Property Group Profile
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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