American Century Companies Inc. increased its stake in Simon Property Group Inc (NYSE:SPG) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 830,176 shares of the real estate investment trust’s stock after purchasing an additional 36,203 shares during the period. American Century Companies Inc. owned 0.26% of Simon Property Group worth $146,734,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in Simon Property Group by 3.1% in the first quarter. Principal Financial Group Inc. now owns 6,096,513 shares of the real estate investment trust’s stock valued at $940,997,000 after buying an additional 185,668 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in Simon Property Group by 7.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 57,343 shares of the real estate investment trust’s stock worth $9,759,000 after purchasing an additional 4,146 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Simon Property Group by 3.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 92,280 shares of the real estate investment trust’s stock worth $15,705,000 after purchasing an additional 3,430 shares in the last quarter. Garland Capital Management Inc. boosted its position in Simon Property Group by 1.5% in the 2nd quarter. Garland Capital Management Inc. now owns 21,690 shares of the real estate investment trust’s stock worth $3,691,000 after purchasing an additional 320 shares in the last quarter. Finally, Bogart Wealth LLC boosted its position in Simon Property Group by 3.2% in the 2nd quarter. Bogart Wealth LLC now owns 11,163 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Simon Property Group stock opened at $188.69 on Friday. The company has a debt-to-equity ratio of 6.14, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market capitalization of $58.82 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.50 and a beta of 0.40. Simon Property Group Inc has a 12 month low of $145.78 and a 12 month high of $189.16.
Simon Property Group (NYSE:SPG) last announced its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.07. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. Sell-side analysts expect that Simon Property Group Inc will post 12.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Thursday, November 15th. Simon Property Group’s payout ratio is 71.36%.
Several research firms have commented on SPG. Citigroup upped their price objective on Simon Property Group from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Raymond James upped their price objective on Simon Property Group from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, October 29th. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Scotiabank began coverage on Simon Property Group in a research report on Tuesday, October 16th. They issued a “sector perform” rating on the stock. Finally, Argus upped their price objective on Simon Property Group to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 11th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $195.42.
In other news, insider John Rulli sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total transaction of $1,119,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.64% of the company’s stock.
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Simon Property Group Company Profile
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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