First Trust Advisors LP Has $35.13 Million Position in Simon Property Group Inc (SPG)

First Trust Advisors LP lowered its stake in shares of Simon Property Group Inc (NYSE:SPG) by 16.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,550 shares of the real estate investment trust’s stock after selling 40,049 shares during the quarter. First Trust Advisors LP’s holdings in Simon Property Group were worth $35,129,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPG. Parallel Advisors LLC raised its stake in 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 bought a new stake in Simon Property Group during the 4th quarter valued at $204,000. Murphy Capital Management Inc. bought a new stake in Simon Property Group during the 4th quarter valued at $206,000. First Merchants Corp bought a new stake in Simon Property Group during the 4th quarter valued at $213,000. Finally, Ausdal Financial Partners Inc. bought a new stake in Simon Property Group during the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 46.99% of the company’s stock.

Several brokerages have weighed in on SPG. ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Boenning Scattergood reaffirmed a “buy” rating and set a $240.00 target price on shares of Simon Property Group in a research note on Thursday, February 1st. Barclays reaffirmed a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a research note on Wednesday, January 31st. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Raymond James Financial set a $185.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Sunday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Simon Property Group presently has an average rating of “Buy” and an average price target of $191.11.

Shares of Simon Property Group Inc (SPG) opened at $156.09 on Tuesday. Simon Property Group Inc has a 12 month low of $150.15 and a 12 month high of $187.35. The company has a quick ratio of 0.93, a current ratio of 1.75 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $49,940.00, a price-to-earnings ratio of 25.01, a PEG ratio of 1.98 and a beta of 0.55.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. research analysts forecast that Simon Property Group Inc will post 12 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Tuesday, February 13th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is currently 125.00%.

In other news, SVP Steven K. Broadwater sold 621 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.42% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by BBNS and is the sole property of of BBNS. If you are accessing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece can be viewed at https://baseballnewssource.com/markets/first-trust-advisors-lp-has-35-13-million-position-in-simon-property-group-inc-spg/1891371.html.

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Eric Hosmer Agrees to Eight-Year Deal with San Diego Padres
Eric Hosmer Agrees to Eight-Year Deal with San Diego Padres
Report: Eduardo Nunez and Red Sox Agree to Deal for One Year
Report: Eduardo Nunez and Red Sox Agree to Deal for One Year
Los Angeles Angels Plan to Use Shohei Ohtani in Six-Man Rotation
Los Angeles Angels Plan to Use Shohei Ohtani in Six-Man Rotation
Cubs Sign Free Agent Yu Darvish
Cubs Sign Free Agent Yu Darvish
Mother of Pittsburgh Pirates Player Elias Diaz Has Been Kidnapped
Mother of Pittsburgh Pirates Player Elias Diaz Has Been Kidnapped
Giants Will Retire No. 25 of Barry Bonds in August
Giants Will Retire No. 25 of Barry Bonds in August


Leave a Reply

 
© 2006-2018 BBNS.