Tower Research Capital LLC TRC boosted its position in shares of Simon Property Group Inc (NYSE:SPG) by 342.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,225 shares of the real estate investment trust’s stock after buying an additional 948 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Simon Property Group were worth $67,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in SPG. Atlas Capital Advisors LLC acquired a new stake in Simon Property Group during the first quarter valued at $29,000. HBC Financial Services PLLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $30,000. Howe & Rusling Inc. acquired a new stake in shares of Simon Property Group in the first quarter valued at about $30,000. Private Capital Group LLC grew its position in shares of Simon Property Group by 273.2% in the first quarter. Private Capital Group LLC now owns 571 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 418 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Simon Property Group by 31.8% in the first quarter. Parallel Advisors LLC now owns 817 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 197 shares during the period. Institutional investors own 90.22% of the company’s stock.
Several analysts have recently issued reports on the stock. Wells Fargo & Co lowered shares of Simon Property Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $130.00 to $60.00 in a research report on Thursday, May 7th. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday. Deutsche Bank boosted their price target on shares of Simon Property Group from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Bank of America lowered shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Tuesday, April 14th. Finally, SunTrust Banks lowered their price target on shares of Simon Property Group from $140.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $96.38.
Shares of SPG stock opened at $68.38 on Wednesday. The company has a debt-to-equity ratio of 11.16, a current ratio of 3.60 and a quick ratio of 3.60. The firm’s 50-day moving average is $65.27 and its two-hundred day moving average is $97.64. Simon Property Group Inc has a 12 month low of $42.25 and a 12 month high of $165.48. The company has a market capitalization of $21.83 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.33.
Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($1.47). Simon Property Group had a return on equity of 68.08% and a net margin of 35.20%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $1.78 earnings per share. Simon Property Group’s revenue for the quarter was down 6.9% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group Inc will post 10.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 7.60%. Simon Property Group’s dividend payout ratio (DPR) is 69.77%.
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.
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