Simon Property Group, Inc. (SPG) Shares Bought by Migdal Insurance & Financial Holdings Ltd.
Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 791.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,455 shares of the real estate investment trust’s stock after purchasing an additional 4,843 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Simon Property Group were worth $175,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norway Savings Bank lifted its stake in Simon Property Group by 19.5% during the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Simon Property Group by 27.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 169 shares during the last quarter. Alpha Windward LLC lifted its stake in Simon Property Group by 12.2% during the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 93 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in Simon Property Group during the second quarter worth $157,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Simon Property Group by 0.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 95.24% of the company’s stock.
Shares of Simon Property Group, Inc. (SPG) traded up $2.49 on Monday, hitting $163.75. The stock had a trading volume of 2,832,300 shares, compared to its average volume of 1,821,617. The firm has a market capitalization of $52,390.00, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $189.25.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. research analysts expect that Simon Property Group, Inc. will post 11.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.52%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is 127.21%.
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Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated a “hold” rating and set a $176.00 price objective on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus reduced their price objective on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a research note on Wednesday, October 11th. Mizuho set a $183.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Sunday, October 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Simon Property Group has an average rating of “Buy” and a consensus price target of $191.45.
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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