Candriam Luxembourg S.C.A. Sells 3,502 Shares of Simon Property Group Inc (NYSE:SPG)

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Candriam Luxembourg S.C.A. lowered its position in shares of Simon Property Group Inc (NYSE:SPG) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,428 shares of the real estate investment trust’s stock after selling 3,502 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Simon Property Group were worth $4,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Simon Property Group by 11.2% during the 3rd quarter. Parallel Advisors LLC now owns 841 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 85 shares during the period. Triangle Securities Wealth Management increased its stake in Simon Property Group by 2.3% during the 4th quarter. Triangle Securities Wealth Management now owns 3,724 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 85 shares during the period. Signature Wealth Management Group increased its stake in Simon Property Group by 0.4% during the 4th quarter. Signature Wealth Management Group now owns 20,281 shares of the real estate investment trust’s stock worth $3,021,000 after acquiring an additional 88 shares during the period. BTC Capital Management Inc. increased its stake in Simon Property Group by 0.3% during the 3rd quarter. BTC Capital Management Inc. now owns 31,876 shares of the real estate investment trust’s stock worth $4,952,000 after acquiring an additional 89 shares during the period. Finally, Exane Derivatives increased its stake in Simon Property Group by 19.9% during the 4th quarter. Exane Derivatives now owns 578 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 96 shares during the period. Institutional investors own 90.80% of the company’s stock.

Shares of SPG opened at $138.92 on Friday. Simon Property Group Inc has a 52-week low of $130.01 and a 52-week high of $186.40. The business’s fifty day moving average is $143.63 and its 200-day moving average is $149.46. The company has a debt-to-equity ratio of 8.42, a quick ratio of 3.34 and a current ratio of 1.08. The firm has a market cap of $44.52 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.69 and a beta of 0.59.

Simon Property Group (NYSE:SPG) last issued 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 Thomson Reuters’ 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business posted $3.23 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research 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, February 28th. Stockholders of record on Friday, February 14th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $8.40 annualized dividend and a dividend yield of 6.05%. Simon Property Group’s payout ratio is 69.77%.

A number of research firms have commented on SPG. Cfra lowered their price objective on Simon Property Group from $145.00 to $120.00 and set a “sell” rating on the stock in a research note on Friday. BMO Capital Markets restated an “in-line” rating and set a $147.00 price objective on shares of Simon Property Group in a research note on Wednesday, February 5th. Stifel Nicolaus lowered their price objective on Simon Property Group from $160.00 to $150.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Co lowered their price objective on Simon Property Group from $182.00 to $168.00 and set an “overweight” rating on the stock in a research note on Tuesday. They noted that the move was a valuation call. Finally, Raymond James lowered their price objective on Simon Property Group from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Simon Property Group currently has an average rating of “Hold” and a consensus target price of $169.54.

About Simon Property Group

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: What is a Buy-Side Analyst?

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

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