Stevens Capital Management LP lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 82.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,337 shares of the real estate investment trust’s stock after acquiring an additional 41,404 shares during the period. Stevens Capital Management LP’s holdings in Simon Property Group were worth $14,775,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Norway Savings Bank boosted its stake in shares of Simon Property Group by 19.5% during the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Simon Property Group by 27.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 169 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Simon Property Group by 12.2% during the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 93 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in shares of Simon Property Group during the first quarter valued at $146,000. Finally, IHT Wealth Management LLC boosted its stake in shares of Simon Property Group by 5.3% during the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 46 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
Simon Property Group, Inc. (NYSE SPG) traded up 0.62% during trading on Friday, hitting $164.77. The stock had a trading volume of 2,811,561 shares. The firm has a market cap of $51.22 billion, a price-to-earnings ratio of 29.37 and a beta of 0.58. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $215.56. The firm’s 50 day moving average is $159.43 and its 200 day moving average is $163.10.
Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts anticipate that Simon Property Group, Inc. will post $6.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were paid a $1.80 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a yield of 4.37%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s payout ratio is 127.89%.
A number of research firms recently commented on SPG. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Argus decreased their price objective on Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. BMO Capital Markets began coverage on Simon Property Group in a research note on Monday, September 11th. They set an “outperform” rating and a $175.00 price objective on the stock. Barclays PLC increased their price objective on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price objective on shares of Simon Property Group in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $193.76.
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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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