Simon Property Group Inc (SPG) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC reduced its position in shares of Simon Property Group Inc (NYSE:SPG) by 89.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,424 shares of the real estate investment trust’s stock after selling 52,174 shares during the period. SG Americas Securities LLC’s holdings in Simon Property Group were worth $1,034,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Thrivent Financial For Lutherans increased its holdings in shares of Simon Property Group by 1.5% during the second quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock worth $28,021,000 after buying an additional 2,530 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Simon Property Group by 9.7% during the second quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock worth $988,797,000 after buying an additional 542,743 shares in the last quarter. Eaton Vance Management increased its holdings in shares of Simon Property Group by 110.5% during the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after buying an additional 811,457 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Simon Property Group during the second quarter worth $456,000. Finally, Partners Value Investments LP acquired a new position in shares of Simon Property Group during the second quarter worth $11,647,000. Institutional investors and hedge funds own 47.59% of the company’s stock.
Shares of Simon Property Group Inc (SPG) traded up $0.60 during trading on Friday, hitting $162.35. 1,725,120 shares of the company traded hands, compared to its average volume of 1,943,908. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group Inc has a one year low of $150.15 and a one year high of $188.10. The company has a market capitalization of $103,482.80, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. Simon Property Group’s revenue for the quarter was up 3.4% on a year-over-year basis. equities research analysts anticipate that Simon Property Group Inc will post 11.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were paid a $1.85 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date was Wednesday, November 15th. This represents a $7.40 annualized dividend and a dividend yield of 4.56%. Simon Property Group’s payout ratio is currently 130.51%.
Several brokerages have recently issued reports on SPG. Argus lowered their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Barclays upped their price target on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a “hold” rating and set a $170.00 price target on shares of Simon Property Group in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, Jefferies Group reiterated a “buy” rating and set a $200.00 price target (up from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. One research 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. The company currently has a consensus rating of “Buy” and an average target price of $191.45.
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Simon Property Group 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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