BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in Simon Property Group Inc (SPG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Simon Property Group Inc (NYSE:SPG) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 124,482 shares of the real estate investment trust’s stock after selling 3,366 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Simon Property Group were worth $21,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Cohen & Steers Inc. increased its stake in Simon Property Group by 6.2% in the 3rd quarter. Cohen & Steers Inc. now owns 12,350,345 shares of the real estate investment trust’s stock valued at $1,988,529,000 after buying an additional 719,375 shares during the period. APG Asset Management US Inc. increased its stake in Simon Property Group by 0.3% in the 4th quarter. APG Asset Management US Inc. now owns 7,517,948 shares of the real estate investment trust’s stock valued at $1,291,132,000 after buying an additional 24,208 shares during the period. Dimensional Fund Advisors LP increased its stake in Simon Property Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,460,741 shares of the real estate investment trust’s stock valued at $718,227,000 after buying an additional 21,676 shares during the period. Geode Capital Management LLC increased its stake in Simon Property Group by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,563,293 shares of the real estate investment trust’s stock valued at $610,753,000 after buying an additional 126,941 shares during the period. Finally, Brookfield Asset Management Inc. increased its stake in Simon Property Group by 14.3% in the 4th quarter. Brookfield Asset Management Inc. now owns 3,443,805 shares of the real estate investment trust’s stock valued at $591,439,000 after buying an additional 432,000 shares during the period. Hedge funds and other institutional investors own 94.77% of the company’s stock.

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SPG has been the topic of several recent research reports. Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, December 3rd. Boenning Scattergood reissued a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a research note on Thursday, February 1st. Barclays reissued a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, ValuEngine cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $190.54.

In other news, CAO Steven K. Broadwater sold 621 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. Following the transaction, the chief accounting officer now directly owns 2,290 shares of the company’s stock, valued at approximately $393,765.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.42% of the company’s stock.

SPG stock opened at $151.73 on Friday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 1.75 and a current ratio of 1.75. Simon Property Group Inc has a 12 month low of $150.15 and a 12 month high of $176.17. The firm has a market cap of $49,440.66, a price-to-earnings ratio of 24.28, a PEG ratio of 1.98 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.12. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. research analysts predict that Simon Property Group Inc will post 12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $1.95 per share. The ex-dividend date was Tuesday, February 13th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.14%. Simon Property Group’s dividend payout ratio is 124.80%.

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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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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