Ellington Management Group LLC purchased a new position in shares of Simon Property Group Inc (NYSE:SPG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,800 shares of the real estate investment trust’s stock, valued at approximately $481,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Heitman Real Estate Securities LLC boosted its stake in Simon Property Group by 24.1% during the fourth quarter. Heitman Real Estate Securities LLC now owns 551,245 shares of the real estate investment trust’s stock worth $94,671,000 after buying an additional 107,227 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Simon Property Group by 9.7% during the fourth quarter. Guggenheim Capital LLC now owns 313,711 shares of the real estate investment trust’s stock worth $53,878,000 after buying an additional 27,662 shares in the last quarter. Franklin Resources Inc. boosted its stake in Simon Property Group by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 567,424 shares of the real estate investment trust’s stock worth $97,450,000 after buying an additional 12,037 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Simon Property Group during the fourth quarter worth $7,522,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Simon Property Group by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 224,858 shares of the real estate investment trust’s stock worth $38,617,000 after buying an additional 5,729 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.
Several brokerages have recently commented on SPG. Zacks Investment Research downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Raymond James Financial set a $185.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, December 3rd. Barclays reduced their target price on shares of Simon Property Group from $190.00 to $188.00 and set an “overweight” rating on the stock in a research note on Monday, February 26th. Finally, Boenning Scattergood restated a “buy” rating and issued a $240.00 target price on shares of Simon Property Group in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $190.90.
Simon Property Group Inc (NYSE:SPG) opened at $158.49 on Thursday. The stock has a market cap of $50,443.31, a PE ratio of 14.03, a P/E/G ratio of 2.02 and a beta of 0.58. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 5.87. Simon Property Group Inc has a 52-week low of $150.15 and a 52-week high of $176.17.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.12. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. analysts forecast that Simon Property Group Inc will post 12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $1.95 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Tuesday, February 13th. Simon Property Group’s payout ratio is currently 124.80%.
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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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