Stratos Wealth Partners LTD. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,760 shares of the real estate investment trust’s stock after buying an additional 45 shares during the period. Stratos Wealth Partners LTD.’s holdings in Simon Property Group were worth $285,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norway Savings Bank raised its position in Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 275 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares during the last quarter. Alpha Windward LLC raised its position in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in Simon Property Group during the first quarter worth about $138,000. Finally, Israel Discount Bank of New York purchased a new position in Simon Property Group during the first quarter worth about $146,000. Institutional investors and hedge funds own 95.64% of the company’s stock.
Simon Property Group, Inc. (NYSE:SPG) opened at 163.41 on Thursday. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $219.41. The stock’s 50 day moving average is $160.80 and its 200-day moving average is $167.46. The company has a market capitalization of $50.79 billion, a P/E ratio of 29.12 and a beta of 0.58.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the business posted $2.63 earnings per share. Simon Property Group’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts predict that Simon Property Group, Inc. will post $6.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $1.80 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 annualized dividend and a yield of 4.41%. Simon Property Group’s dividend payout ratio is currently 124.33%.
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SPG has been the topic of a number of research analyst reports. Vetr lowered shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 target price on the stock. in a research note on Tuesday, May 2nd. Jefferies Group LLC restated a “buy” rating and issued a $210.00 price target on shares of Simon Property Group in a research report on Monday, April 17th. Mizuho upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target on the stock in a research report on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Finally, Argus decreased their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $195.01.
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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