Simon Property Group Inc (SPG) Shares Bought by Dean Investment Associates LLC
Dean Investment Associates LLC boosted its position in Simon Property Group Inc (NYSE:SPG) by 135.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,533 shares of the real estate investment trust’s stock after purchasing an additional 7,212 shares during the period. Dean Investment Associates LLC’s holdings in Simon Property Group were worth $2,152,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WFG Advisors LP increased its stake in Simon Property Group by 1.3% in the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 23 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Simon Property Group by 1.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,596 shares of the real estate investment trust’s stock worth $2,523,000 after buying an additional 173 shares in the last quarter. Parallel Advisors LLC increased its position in Simon Property Group by 69.7% during the third quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 317 shares in the last quarter. Advisor Partners LLC increased its position in Simon Property Group by 7.6% during the fourth quarter. Advisor Partners LLC now owns 4,540 shares of the real estate investment trust’s stock worth $746,000 after buying an additional 322 shares in the last quarter. Finally, Phocas Financial Corp. increased its position in Simon Property Group by 2.5% during the second quarter. Phocas Financial Corp. now owns 13,323 shares of the real estate investment trust’s stock worth $2,155,000 after buying an additional 325 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on SPG. ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Boenning Scattergood reissued a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a research report on Thursday, February 1st. Barclays reissued a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a research report on Wednesday, January 31st. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Finally, Raymond James Financial set a $185.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $191.11.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $3.12. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. analysts expect that Simon Property Group Inc will post 12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be given a $1.95 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.13%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is currently 118.40%.
In other news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the sale, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at $393,765.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.42% of the stock is owned by insiders.
About Simon Property Group
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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