DekaBank Deutsche Girozentrale Has $25.98 Million Stake in Simon Property Group, Inc. (NYSE:SPG)
DekaBank Deutsche Girozentrale decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 25.1% during the second quarter, Holdings Channel reports. The fund owned 159,018 shares of the real estate investment trust’s stock after selling 53,178 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Simon Property Group were worth $25,983,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SPG. Norway Savings Bank boosted its position in Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 275 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares in the last quarter. Alpha Windward LLC boosted its position in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new position in Simon Property Group during the first quarter worth approximately $138,000. Finally, Israel Discount Bank of New York acquired a new position in Simon Property Group during the first quarter worth approximately $146,000. 95.64% of the stock is currently owned by institutional investors.
Shares of Simon Property Group, Inc. (NYSE SPG) opened at 161.15 on Friday. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $219.41. The stock has a market cap of $50.09 billion, a price-to-earnings ratio of 28.72 and a beta of 0.58. The firm’s 50-day moving average price is $160.87 and its 200-day moving average price is $167.42.
Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $2.63 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts forecast that Simon Property Group, Inc. will post $6.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio (DPR) is 124.33%.
A number of research analysts have recently commented on the company. Argus cut their target price on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $158.00 target price (down previously from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Buy” and an average target price of $195.01.
Simon Property Group Company 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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