Wetherby Asset Management Inc. grew its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 10.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,062 shares of the real estate investment trust’s stock after acquiring an additional 387 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Simon Property Group were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in SPG. Parallel Advisors LLC increased its position 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 purchasing an additional 317 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Simon Property Group by 791.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 4,843 shares during the last quarter. RFG Advisory Group LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $200,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at $204,000. Finally, Partnervest Advisory Services LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $204,000. 46.99% of the stock is owned by hedge funds and other institutional investors.
In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the transaction, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $393,765.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.42% of the stock is owned by company insiders.
Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting the consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s revenue was up .1% compared to the same quarter last year. equities analysts expect that Simon Property Group Inc will post 12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $1.95 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $7.80 annualized dividend and a yield of 5.00%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio (DPR) is currently 125.00%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Boenning Scattergood reaffirmed a “buy” rating and set a $240.00 target price on shares of Simon Property Group in a research report on Thursday, February 1st. Raymond James Financial set a $185.00 target price on Simon Property Group and gave the company a “buy” rating in a research report on Sunday, December 3rd. Barclays reissued a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a report on Wednesday, January 31st. Finally, ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Simon Property Group presently has an average rating of “Buy” and a consensus target price of $191.11.
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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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