Zimmer Partners LP lessened its holdings in Simon Property Group Inc (NYSE:SPG) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,300 shares of the real estate investment trust’s stock after selling 59,700 shares during the period. Zimmer Partners LP’s holdings in Simon Property Group were worth $32,682,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Simon Property Group by 17.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the real estate investment trust’s stock worth $2,950,000 after acquiring an additional 2,721 shares in the last quarter. Global X MANAGEMENT CO LLC raised its position in Simon Property Group by 10.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 3,750 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 353 shares in the last quarter. CIBC Asset Management Inc raised its position in Simon Property Group by 0.5% in the 3rd quarter. CIBC Asset Management Inc now owns 126,553 shares of the real estate investment trust’s stock valued at $20,376,000 after purchasing an additional 666 shares in the last quarter. New York State Common Retirement Fund raised its position in Simon Property Group by 10.2% in the 3rd quarter. New York State Common Retirement Fund now owns 898,400 shares of the real estate investment trust’s stock valued at $144,651,000 after purchasing an additional 83,400 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Simon Property Group by 12.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 242,376 shares of the real estate investment trust’s stock valued at $39,025,000 after purchasing an additional 27,217 shares in the last quarter. 94.86% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on SPG. Barclays reduced their price target on Simon Property Group from $190.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Boenning Scattergood reaffirmed a “buy” rating and issued a $240.00 price target on shares of Simon Property Group in a research report on Thursday, February 1st. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Finally, Raymond James Financial set a $185.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Sunday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Simon Property Group presently has an average rating of “Buy” and a consensus price target of $191.01.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.12. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. sell-side analysts forecast that Simon Property Group Inc will post 12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Tuesday, February 13th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio (DPR) is currently 124.80%.
In related news, CAO Steven K. Broadwater sold 621 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. Following the transaction, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $393,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.42% of the company’s stock.
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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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