Public Sector Pension Investment Board grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,411 shares of the real estate investment trust’s stock after purchasing an additional 8,132 shares during the quarter. Public Sector Pension Investment Board’s holdings in Simon Property Group were worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of SPG. CreativeOne Wealth LLC lifted its position in Simon Property Group by 128.0% in the third quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust’s stock valued at $1,277,000 after acquiring an additional 4,241 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at about $376,000. Glenmede Trust Co. NA lifted its holdings in shares of Simon Property Group by 477.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock valued at $16,978,000 after purchasing an additional 83,049 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Simon Property Group by 8.8% in the 3rd quarter. Townsquare Capital LLC now owns 27,125 shares of the real estate investment trust’s stock valued at $4,585,000 after purchasing an additional 2,191 shares during the period. Finally, Avestar Capital LLC grew its stake in Simon Property Group by 2.8% during the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on SPG shares. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho lifted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Scotiabank upped their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.
Simon Property Group Trading Down 0.0 %
Shares of Simon Property Group stock opened at $183.71 on Friday. The firm has a market cap of $59.94 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $122.50 and a 52-week high of $186.00. The company’s 50-day simple moving average is $174.30 and its 200-day simple moving average is $161.30. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.
Simon Property Group (NYSE:SPG – Get Free Report) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.20 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.78 earnings per share for the current year.
Simon Property Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s dividend payout ratio is presently 109.19%.
Insider Buying and Selling at Simon Property Group
In related news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.
Simon Property Group Company Profile
Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.
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