Nelson Van Denburg & Campbell Wealth Management Group LLC cut its position in Simon Property Group, Inc. (NYSE:SPG) by 29.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 966 shares of the real estate investment trust’s stock after selling 401 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Simon Property Group were worth $166,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Simon Property Group during the fourth quarter worth approximately $261,732,000. Vanguard Group Inc. increased its position in Simon Property Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 45,481,675 shares of the real estate investment trust’s stock worth $7,824,213,000 after buying an additional 923,592 shares during the period. PGGM Investments increased its position in Simon Property Group by 31.8% in the first quarter. PGGM Investments now owns 3,473,850 shares of the real estate investment trust’s stock worth $597,606,000 after buying an additional 839,043 shares during the period. Renaissance Technologies LLC purchased a new position in Simon Property Group during the fourth quarter worth approximately $110,245,000. Finally, Brookfield Asset Management Inc. increased its position in Simon Property Group by 28.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,264,105 shares of the real estate investment trust’s stock worth $402,264,000 after buying an additional 495,300 shares during the period. Institutional investors own 95.30% of the company’s stock.
Simon Property Group, Inc. (NYSE:SPG) traded up 0.17% during midday trading on Thursday, hitting $159.05. The stock had a trading volume of 794,355 shares. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $229.10. The company’s 50-day moving average price is $158.52 and its 200 day moving average price is $172.60. The stock has a market cap of $49.66 billion, a P/E ratio of 27.22 and a beta of 0.61.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted $2.63 EPS. Simon Property Group’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts predict that Simon Property Group, Inc. will post $6.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were paid a dividend of $1.75 per share. The ex-dividend date was Monday, May 15th. This represents a $7.00 annualized dividend and a yield of 4.41%. Simon Property Group’s dividend payout ratio is 119.66%.
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A number of equities analysts have recently commented on SPG shares. Zacks Investment Research downgraded Simon Property Group from a “hold” rating to a “sell” rating in a report on Monday, March 27th. Deutsche Bank AG raised their price objective on Simon Property Group from $188.00 to $191.00 and gave the stock a “hold” rating in a report on Monday, May 22nd. Barclays PLC restated an “overweight” rating and issued a $191.00 price objective (down from $200.00) on shares of Simon Property Group in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) downgraded Simon Property Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $207.00 to $185.00 in a report on Friday, March 17th. Finally, Vetr upgraded Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective on the stock in a report on Wednesday, April 26th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $204.37.
In other news, Director Reuben S. Leibowitz purchased 1,400 shares of the stock in a transaction that occurred on Tuesday, March 28th. The shares were purchased at an average cost of $166.00 per share, for a total transaction of $232,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.42% of the company’s stock.
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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