Simon Property Group Sees Unusually Large Options Volume (SPG)

Simon Property Group Inc (NYSE:SPG) was the recipient of unusually large options trading on Tuesday. Investors bought 19,367 call options on the stock. This is an increase of 3,828% compared to the typical daily volume of 493 call options.

Several research analysts have commented on the company. Wells Fargo & Co downgraded Simon Property Group from an “overweight” rating to a “market weight” rating in a report on Friday, February 8th. BMO Capital Markets reaffirmed a “buy” rating and set a $191.00 target price on shares of Simon Property Group in a report on Friday, February 1st. Deutsche Bank set a $191.00 target price on Simon Property Group and gave the stock a “hold” rating in a report on Friday, November 30th. Morgan Stanley set a $180.00 target price on Simon Property Group and gave the stock a “hold” rating in a report on Tuesday, November 27th. Finally, Scotiabank set a $183.00 target price on Simon Property Group and gave the stock a “hold” rating in a report on Monday, November 12th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $194.33.

Several large investors have recently made changes to their positions in SPG. Schroder Investment Management Group lifted its stake in shares of Simon Property Group by 31.2% in the 2nd quarter. Schroder Investment Management Group now owns 69,315 shares of the real estate investment trust’s stock valued at $11,867,000 after purchasing an additional 16,501 shares during the period. FMR LLC increased its position in Simon Property Group by 2.0% in the 2nd quarter. FMR LLC now owns 6,470,355 shares of the real estate investment trust’s stock valued at $1,101,190,000 after buying an additional 124,884 shares in the last quarter. Bank of Montreal Can increased its position in Simon Property Group by 6.5% in the 3rd quarter. Bank of Montreal Can now owns 393,598 shares of the real estate investment trust’s stock valued at $69,567,000 after buying an additional 23,859 shares in the last quarter. Capital Investment Advisors LLC increased its position in Simon Property Group by 24.5% in the 3rd quarter. Capital Investment Advisors LLC now owns 47,672 shares of the real estate investment trust’s stock valued at $8,426,000 after buying an additional 9,394 shares in the last quarter. Finally, PGGM Investments increased its position in Simon Property Group by 1.6% in the 3rd quarter. PGGM Investments now owns 3,746,811 shares of the real estate investment trust’s stock valued at $662,249,000 after buying an additional 57,811 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

Shares of NYSE:SPG opened at $184.00 on Thursday. The stock has a market capitalization of $58.62 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 3.03 and a beta of 0.59. The company has a debt-to-equity ratio of 6.21, a quick ratio of 1.12 and a current ratio of 0.97. Simon Property Group has a 1 year low of $145.78 and a 1 year high of $191.49.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, February 1st. The real estate investment trust reported $3.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.01). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a net margin of 43.11% and a return on equity of 63.21%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. On average, equities research analysts forecast that Simon Property Group will post 12.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.46%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Wednesday, February 13th. Simon Property Group’s payout ratio is currently 65.95%.

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Simon Property Group Company Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

See Also: Fundamental Analysis and Individual Investors

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