Aberdeen Asset Management PLC UK lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 35.2% during the fourth quarter, Holdings Channel reports. The firm owned 61,108 shares of the real estate investment trust’s stock after selling 33,133 shares during the period. Aberdeen Asset Management PLC UK’s holdings in Simon Property Group were worth $10,857,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Bank of Hawaii increased its position in Simon Property Group by 31.6% in the second quarter. Bank of Hawaii now owns 2,517 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 605 shares in the last quarter. BTC Capital Management Inc. purchased a new position in shares of Simon Property Group during the second quarter valued at about $5,244,000. Bank of New York Mellon Corp boosted its position in shares of Simon Property Group by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 6,209,418 shares of the real estate investment trust’s stock valued at $1,346,822,000 after buying an additional 133,182 shares during the period. Everence Capital Management Inc. increased its position in Simon Property Group by 26.1% in the second quarter. Everence Capital Management Inc. now owns 9,813 shares of the real estate investment trust’s stock worth $2,128,000 after buying an additional 2,030 shares in the last quarter. Finally, Ngam Advisors L.P. increased its position in Simon Property Group by 5.6% in the second quarter. Ngam Advisors L.P. now owns 136,520 shares of the real estate investment trust’s stock worth $29,611,000 after buying an additional 7,242 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.
Simon Property Group, Inc. (NYSE:SPG) opened at 180.94 on Wednesday. Simon Property Group, Inc. has a one year low of $173.11 and a one year high of $229.10. The company has a market capitalization of $56.86 billion, a price-to-earnings ratio of 30.82 and a beta of 0.60. The firm’s 50-day moving average price is $182.15 and its 200 day moving average price is $194.32.
Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, January 31st. The real estate investment trust reported $2.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $1.05. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Simon Property Group had a net margin of 35.11% and a return on equity of 39.00%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 EPS. On average, equities research analysts expect that Simon Property Group, Inc. will post $6.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be paid a dividend of $1.75 per share. The ex-dividend date is Friday, February 10th. This represents a $7.00 annualized dividend and a yield of 3.87%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.65. Simon Property Group’s payout ratio is presently 119.25%.
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Several equities analysts have recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $231.00 target price on shares of Simon Property Group in a report on Wednesday, February 1st. Barclays PLC cut their price target on Simon Property Group from $247.00 to $202.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. SunTrust Banks, Inc. downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, January 19th. They noted that the move was a valuation call. Deutsche Bank AG lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $231.00 to $188.00 in a research report on Monday, January 9th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Simon Property Group in a research note on Saturday, January 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $229.80.
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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