Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,200 shares of the real estate investment trust’s stock after selling 2,686 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Simon Property Group were worth $12,108,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial For Lutherans raised its holdings in shares of Simon Property Group by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock valued at $28,021,000 after buying an additional 2,530 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Simon Property Group by 9.7% during 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 buying an additional 542,743 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Simon Property Group by 110.5% during the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after buying an additional 811,457 shares in the last quarter. Partners Value Investments LP purchased a new position in shares of Simon Property Group during the 2nd quarter valued at about $11,647,000. Finally, Koch Industries Inc. purchased a new position in shares of Simon Property Group during the 2nd quarter valued at about $456,000. Hedge funds and other institutional investors own 95.24% of the company’s stock.
SPG has been the topic of a number of research reports. BMO Capital Markets initiated coverage on Simon Property Group in a report on Monday, September 11th. They set an “outperform” rating and a $175.00 price objective on the stock. Stifel Nicolaus set a $170.00 price objective on Simon Property Group and gave the company a “hold” rating in a report on Sunday, August 27th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Simon Property Group in a research note on Tuesday, July 25th. BidaskClub raised Simon Property Group from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Simon Property Group currently has an average rating of “Buy” and an average target price of $191.45.
Shares of Simon Property Group, Inc. (NYSE SPG) traded down $3.44 during trading hours on Tuesday, hitting $160.31. The stock had a trading volume of 2,945,900 shares, compared to its average volume of 1,826,750. The company has a market capitalization of $104,762.34, a P/E ratio of 14.87, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93. Simon Property Group, Inc. has a 1 year low of $150.15 and a 1 year high of $189.25.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.70 earnings per share. sell-side analysts expect that Simon Property Group, Inc. will post 11.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Wednesday, November 15th. Simon Property Group’s dividend payout ratio is presently 126.98%.
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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