Simon Property Group Inc (SPG) Shares Sold by Swiss National Bank
Swiss National Bank lessened its position in Simon Property Group Inc (NYSE:SPG) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,146,598 shares of the real estate investment trust’s stock after selling 9,800 shares during the quarter. Swiss National Bank’s holdings in Simon Property Group were worth $196,917,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of Simon Property Group by 69.7% in the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 317 shares during the period. Partnervest Advisory Services LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $204,000. Murphy Capital Management Inc. purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $206,000. First Merchants Corp purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $213,000. Finally, Ausdal Financial Partners Inc. purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 47.57% of the company’s stock.
Several equities research analysts recently issued reports on SPG shares. Boenning Scattergood reiterated a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a report on Thursday, February 1st. Barclays reiterated a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a report on Wednesday, January 31st. Mizuho set a $183.00 price objective on Simon Property Group and gave the company a “buy” rating in a report on Sunday, October 29th. BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Argus cut their price objective on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $191.11.
Simon Property Group Inc (SPG) opened at $157.20 on Friday. Simon Property Group Inc has a one year low of $150.15 and a one year high of $187.35. The company has a market capitalization of $97,360.20, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.94 and a beta of 0.55. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 5.87.
Simon Property Group (NYSE:SPG) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $1.26 EPS. Simon Property Group’s revenue for the quarter was up .1% on a year-over-year basis. analysts anticipate that Simon Property Group Inc will post 12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 4.96%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date is Tuesday, February 13th. Simon Property Group’s payout ratio is presently 118.40%.
About Simon Property Group
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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