Walter & Keenan Financial Consulting Co. MI ADV continued to hold its stake in Simon Property Group, Inc. (NYSE:SPG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,630 shares of the real estate investment trust’s stock at the end of the first quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Simon Property Group were worth $624,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Simon Property Group during the third quarter valued at about $1,611,000. SignalPoint Asset Management LLC raised its position in Simon Property Group by 25.1% in the third quarter. SignalPoint Asset Management LLC now owns 2,126 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 426 shares during the period. Mutual of America Capital Management LLC raised its position in Simon Property Group by 0.9% in the third quarter. Mutual of America Capital Management LLC now owns 36,272 shares of the real estate investment trust’s stock valued at $7,509,000 after buying an additional 327 shares during the period. San Francisco Sentry Investment Group CA raised its position in shares of Simon Property Group by 0.8% in the third quarter. San Francisco Sentry Investment Group CA now owns 6,455 shares of the real estate investment trust’s stock worth $1,336,000 after buying an additional 50 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Simon Property Group by 12.7% in the third quarter. First Trust Advisors LP now owns 268,091 shares of the real estate investment trust’s stock worth $55,498,000 after buying an additional 30,169 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.
Simon Property Group, Inc. (NYSE:SPG) traded down 0.80% on Monday, hitting $158.97. 2,150,461 shares of the company were exchanged. The company has a 50 day moving average price of $158.97 and a 200-day moving average price of $173.00. The stock has a market capitalization of $49.63 billion, a P/E ratio of 27.20 and a beta of 0.61. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $229.10.
Simon Property Group (NYSE:SPG) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share for the quarter, missing the consensus estimate of $2.76 by $0.02. Simon Property Group had a return on equity of 40.16% and a net margin of 34.99%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $2.63 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts expect that Simon Property Group, Inc. will post $6.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th were given a dividend of $1.75 per share. The ex-dividend date was Monday, May 15th. This represents a $7.00 annualized dividend and a dividend yield of 4.40%. Simon Property Group’s dividend payout ratio (DPR) is 119.66%.
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SPG has been the subject of a number of research analyst reports. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Simon Property Group in a research note on Monday, April 17th. Barclays PLC cut their price target on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. BTIG Research restated a “buy” rating and set a $231.00 price target on shares of Simon Property Group in a research note on Monday, April 3rd. Finally, Hilliard Lyons raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Friday, March 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $204.37.
In other Simon Property Group news, Director Reuben S. Leibowitz bought 1,400 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The stock was acquired at an average cost of $166.00 per share, for a total transaction of $232,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.42% of the stock is currently owned by company insiders.
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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