Bp Plc raised its holdings in Simon Property Group Inc (NYSE:SPG) by 41.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,000 shares of the real estate investment trust’s stock after buying an additional 16,000 shares during the period. Bp Plc’s holdings in Simon Property Group were worth $9,240,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in shares of Simon Property Group by 4.0% in the third quarter. LPL Financial LLC now owns 10,953 shares of the real estate investment trust’s stock valued at $1,936,000 after buying an additional 421 shares in the last quarter. Spectrum Management Group Inc. grew its stake in Simon Property Group by 82.3% during the third quarter. Spectrum Management Group Inc. now owns 18,921 shares of the real estate investment trust’s stock valued at $3,344,000 after acquiring an additional 8,541 shares in the last quarter. First Republic Investment Management Inc. grew its stake in Simon Property Group by 4.5% during the third quarter. First Republic Investment Management Inc. now owns 117,103 shares of the real estate investment trust’s stock valued at $20,698,000 after acquiring an additional 5,077 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Simon Property Group during the third quarter valued at approximately $636,000. Finally, IFM Investors Pty Ltd grew its stake in Simon Property Group by 9.8% during the fourth quarter. IFM Investors Pty Ltd now owns 17,931 shares of the real estate investment trust’s stock valued at $3,012,000 after acquiring an additional 1,602 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SPG opened at $184.00 on Thursday. The company has a market capitalization of $58.62 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 3.03 and a beta of 0.59. The company has a debt-to-equity ratio of 6.21, a current ratio of 0.97 and a quick ratio of 1.12. Simon Property Group Inc has a fifty-two week low of $145.78 and a fifty-two week high of $191.49.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 14th will be issued a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Wednesday, February 13th. Simon Property Group’s dividend payout ratio is currently 65.95%.
Several equities analysts recently commented on the stock. Raymond James boosted their price objective on shares of Simon Property Group from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, October 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $191.00 price objective on shares of Simon Property Group in a research note on Friday, February 1st. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Scotiabank set a $183.00 target price on shares of Simon Property Group and gave the company a “hold” rating in a research report on Monday, November 12th. Finally, Citigroup lifted their target price on shares of Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $194.33.
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About Simon Property Group
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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