Macquarie Group Ltd. lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561,069 shares of the real estate investment trust’s stock after buying an additional 68,359 shares during the quarter. Macquarie Group Ltd. owned approximately 0.09% of Simon Property Group worth $90,339,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SPG. Capital World Investors raised its stake in shares of Simon Property Group by 25.4% during the 2nd quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock worth $3,362,667,000 after buying an additional 4,210,000 shares during the period. Eaton Vance Management increased its position in shares of Simon Property Group by 110.5% during the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after purchasing an additional 811,457 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Simon Property Group by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock worth $1,067,204,000 after purchasing an additional 789,384 shares in the last quarter. Uniplan Investment Counsel Inc. increased its position in shares of Simon Property Group by 118.1% during the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock worth $88,381,000 after purchasing an additional 714,159 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased its position in shares of Simon Property Group by 28.4% during the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after purchasing an additional 690,169 shares in the last quarter. 95.24% of the stock is owned by institutional investors and hedge funds.
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Several analysts recently commented on SPG shares. BidaskClub cut Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Barclays PLC boosted their price target on Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating on shares of Simon Property Group in a research report on Tuesday, July 25th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets started coverage on Simon Property Group in a research report on Monday, September 11th. They set an “outperform” rating and a $175.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Simon Property Group presently has a consensus rating of “Buy” and an average target price of $191.45.
Simon Property Group, Inc. (NYSE SPG) traded up $2.08 during midday trading on Friday, hitting $161.95. The stock had a trading volume of 2,158,624 shares, compared to its average volume of 2,021,080. The stock has a market cap of $103,610.75, a PE ratio of 14.71, a PEG ratio of 2.19 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group, Inc. has a fifty-two week low of $150.15 and a fifty-two week high of $188.10.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.70 EPS. analysts expect that Simon Property Group, Inc. will post 11.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. The ex-dividend date is Wednesday, November 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group’s dividend payout ratio is currently 130.51%.
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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