Investors Sell Shares of Simon Property Group (SPG) on Strength (SPG)

Investors sold shares of Simon Property Group Inc (NYSE:SPG) on strength during trading hours on Friday. $35.42 million flowed into the stock on the tick-up and $69.57 million flowed out of the stock on the tick-down, for a money net flow of $34.15 million out of the stock. Of all companies tracked, Simon Property Group had the 25th highest net out-flow for the day. Simon Property Group traded up $0.59 for the day and closed at $171.74

Several equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Simon Property Group in a research note on Monday, September 11th. They set an “outperform” rating and a $175.00 price objective for the company. Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, December 3rd. Mizuho set a $183.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Argus decreased their price target on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $191.11.

The stock has a market capitalization of $109,253.53, a P/E ratio of 30.29, a PEG ratio of 2.31 and a beta of 0.62. 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 (NYSE:SPG) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $2.70 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. analysts predict that Simon Property Group Inc will post 11.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were paid a dividend of $1.85 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.31%. Simon Property Group’s dividend payout ratio (DPR) is currently 130.51%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 0.6% during the second quarter. Vanguard Group Inc. now owns 45,741,576 shares of the real estate investment trust’s stock valued at $7,399,158,000 after purchasing an additional 259,901 shares in the last quarter. Capital World Investors increased its stake in shares of Simon Property Group by 25.4% during the second quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock valued at $3,362,667,000 after purchasing an additional 4,210,000 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of Simon Property Group by 6.2% during the third quarter. Cohen & Steers Inc. now owns 12,350,345 shares of the real estate investment trust’s stock valued at $1,988,529,000 after purchasing an additional 719,375 shares in the last quarter. APG Asset Management US Inc. increased its stake in shares of Simon Property Group by 3.2% during the third quarter. APG Asset Management US Inc. now owns 7,493,740 shares of the real estate investment trust’s stock valued at $1,206,567,000 after purchasing an additional 235,200 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Simon Property Group by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock valued at $1,067,204,000 after purchasing an additional 789,384 shares in the last quarter. 47.38% of the stock is owned by institutional investors and hedge funds.

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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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