ING Groep NV bought a new stake in shares of Simon Property Group Inc (NYSE:SPG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,055 shares of the real estate investment trust’s stock, valued at approximately $2,929,000.
Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 317 shares in the last quarter. Partnervest Advisory Services LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at $204,000. Murphy Capital Management Inc. purchased a new position in shares of Simon Property Group during the 4th quarter valued at $206,000. First Merchants Corp purchased a new position in shares of Simon Property Group during the 4th quarter valued at $213,000. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of Simon Property Group during the 3rd quarter valued at $204,000. 47.57% of the stock is currently owned by institutional investors.
SPG has been the topic of several research analyst reports. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Barclays restated a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a report on Wednesday, January 31st. Raymond James Financial set a $185.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Sunday, December 3rd. Finally, SunTrust Banks set a $170.00 price target on shares of Simon Property Group and gave the company a “hold” rating in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Simon Property Group currently has an average rating of “Buy” and a consensus target price of $191.11.
Simon Property Group (NYSE:SPG) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.12. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. analysts anticipate that Simon Property Group Inc will post 12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a dividend of $1.95 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $7.80 dividend on an annualized basis and a yield of 4.96%. Simon Property Group’s payout ratio is currently 118.40%.
In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. Following the completion of the transaction, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at approximately $393,765.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.42% of the stock is owned by insiders.
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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