BT Investment Management Ltd increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,396 shares of the real estate investment trust’s stock after buying an additional 2,900 shares during the period. BT Investment Management Ltd’s holdings in Simon Property Group were worth $16,960,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norway Savings Bank boosted its position 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 period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 169 shares during the period. Alpha Windward LLC boosted its position in shares of Simon Property Group by 12.2% in the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 93 shares during the period. Highstreet Asset Management Inc. bought a new position in shares of Simon Property Group in the second quarter valued at approximately $157,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Simon Property Group by 0.7% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 95.24% of the company’s stock.
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Shares of Simon Property Group, Inc. (NYSE:SPG) traded up $0.20 during midday trading on Wednesday, hitting $160.51. 2,085,800 shares of the company traded hands, compared to its average volume of 1,827,928. The stock has a market capitalization of $102,561.53, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.60. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $189.25. 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 (NYSE:SPG) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 earnings per share. equities analysts predict that Simon Property Group, Inc. will post 11.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be issued a $1.85 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $7.40 annualized dividend and a yield of 4.61%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s payout ratio is 126.98%.
A number of research firms have recently commented on SPG. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Argus dropped their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. Barclays PLC lifted their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Mizuho set a $183.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $176.00 target price on shares of Simon Property Group in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Simon Property Group presently has an average rating of “Buy” and a consensus target price of $191.45.
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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