Tredje AP fonden Has $4.12 Million Holdings in Simon Property Group Inc (SPG)

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Tredje AP fonden grew its position in shares of Simon Property Group Inc (NYSE:SPG) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,609 shares of the real estate investment trust’s stock after purchasing an additional 222 shares during the period. Tredje AP fonden’s holdings in Simon Property Group were worth $4,120,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Athena Capital Advisors LLC boosted its position in shares of Simon Property Group by 173,950.8% in the first quarter. Athena Capital Advisors LLC now owns 410,760 shares of the real estate investment trust’s stock worth $63,401,000 after acquiring an additional 410,524 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Simon Property Group by 58.7% in the fourth quarter. Advisors Asset Management Inc. now owns 18,243 shares of the real estate investment trust’s stock worth $3,065,000 after acquiring an additional 6,751 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of Simon Property Group by 13.3% in the first quarter. Flagship Harbor Advisors LLC now owns 527 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 62 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Simon Property Group by 9.1% in the fourth quarter. Van ECK Associates Corp now owns 107,648 shares of the real estate investment trust’s stock worth $18,084,000 after acquiring an additional 8,985 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. boosted its position in shares of Simon Property Group by 9.1% in the first quarter. McKinley Carter Wealth Services Inc. now owns 4,846 shares of the real estate investment trust’s stock worth $883,000 after acquiring an additional 404 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors.

SPG has been the topic of several research analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $191.00 target price on shares of Simon Property Group in a research report on Friday, February 1st. Mizuho cut shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 target price on the stock. in a research report on Friday, February 15th. Wells Fargo & Co cut shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a research report on Friday, February 8th. Finally, Barclays reaffirmed a “buy” rating and set a $202.00 price target on shares of Simon Property Group in a research report on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $192.14.

In other Simon Property Group news, insider John Rulli sold 9,160 shares of Simon Property Group stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the transaction, the insider now directly owns 29,646 shares of the company’s stock, valued at $5,222,735.82. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.75% of the company’s stock.

SPG stock traded down $0.02 during midday trading on Thursday, reaching $163.94. 36,165 shares of the company’s stock traded hands, compared to its average volume of 1,384,768. The stock has a market cap of $51.93 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 3.05 and a beta of 0.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34. Simon Property Group Inc has a fifty-two week low of $158.21 and a fifty-two week high of $191.49.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.02. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. Simon Property Group’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share. On average, equities analysts forecast that Simon Property Group Inc will post 12.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $2.05 per share. The ex-dividend date is Thursday, May 16th. This represents a $8.20 dividend on an annualized basis and a yield of 5.00%. Simon Property Group’s dividend payout ratio (DPR) is 67.60%.

Simon Property Group announced that its board has initiated a share repurchase plan on Tuesday, February 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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Simon Property Group Company 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.

Further Reading: Cost of Capital

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

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

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