Investors Sell Simon Property Group Inc. (SPG) on Strength (SPG)
Investors sold shares of Simon Property Group Inc. (NYSE:SPG) on strength during trading hours on Friday. $46.24 million flowed into the stock on the tick-up and $104.39 million flowed out of the stock on the tick-down, for a money net flow of $58.15 million out of the stock. Of all stocks tracked, Simon Property Group had the 0th highest net out-flow for the day. Simon Property Group traded up $2.97 for the day and closed at $227.04
A number of equities research analysts have recently issued reports on SPG shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Simon Property Group in a report on Wednesday, April 20th. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 target price for the company in a report on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating on shares of Simon Property Group in a report on Wednesday, April 27th. Mizuho started coverage on shares of Simon Property Group in a report on Wednesday, April 13th. They set a “buy” rating and a $233.00 target price for the company. Finally, Vetr raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $217.76 target price for the company in a report on Wednesday, April 6th. Sixteen investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $228.79.
The stock has a 50 day moving average of $215.89 and a 200 day moving average of $201.95. The firm has a market cap of $71.34 billion and a price-to-earnings ratio of 40.33.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.01. During the same period last year, the firm earned $2.41 EPS. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts expect that Simon Property Group Inc. will post $10.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be paid a dividend of $1.65 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.60. This represents a $6.60 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, August 15th.
A number of hedge funds recently bought and sold shares of SPG. KBC Group NV boosted its stake in Simon Property Group by 9.2% in the fourth quarter. KBC Group NV now owns 154,224 shares of the real estate investment trust’s stock worth $29,988,000 after buying an additional 13,004 shares in the last quarter. Ashburton Jersey Ltd bought a new stake in Simon Property Group during the fourth quarter worth approximately $1,314,000. Dimensional Fund Advisors LP boosted its stake in Simon Property Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,923,262 shares of the real estate investment trust’s stock worth $762,843,000 after buying an additional 53,521 shares in the last quarter. Stephens Inc. AR boosted its stake in Simon Property Group by 9.0% in the fourth quarter. Stephens Inc. AR now owns 36,501 shares of the real estate investment trust’s stock worth $7,097,000 after buying an additional 3,000 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in Simon Property Group during the fourth quarter worth approximately $43,749,000.
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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