Great West Life Assurance Co. Can lifted its holdings in Simon Property Group Inc (NYSE:SPG) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 581,402 shares of the real estate investment trust’s stock after buying an additional 56,765 shares during the period. Great West Life Assurance Co. Can owned about 0.09% of Simon Property Group worth $93,774,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SPG. APG Asset Management N.V. increased its holdings in shares of Simon Property Group by 12.0% in the 2nd quarter. APG Asset Management N.V. now owns 72,045 shares of the real estate investment trust’s stock worth $11,654,000 after buying an additional 7,700 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in Simon Property Group during the 2nd quarter valued at about $499,000. RMR Advisors LLC grew its holdings in Simon Property Group by 2.3% during the 2nd quarter. RMR Advisors LLC now owns 44,427 shares of the real estate investment trust’s stock valued at $7,187,000 after purchasing an additional 1,000 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Simon Property Group by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 13,800 shares of the real estate investment trust’s stock valued at $2,232,000 after purchasing an additional 582 shares during the last quarter. Finally, IBM Retirement Fund grew its holdings in Simon Property Group by 120.9% during the 2nd quarter. IBM Retirement Fund now owns 7,591 shares of the real estate investment trust’s stock valued at $1,373,000 after purchasing an additional 4,155 shares during the last quarter. Hedge funds and other institutional investors own 47.60% of the company’s stock.
Several equities analysts recently commented on the stock. Raymond James Financial set a $185.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Sunday. Royal Bank Of Canada reissued a “hold” rating and issued a $176.00 price objective on shares of Simon Property Group in a research report on Thursday, November 2nd. Argus lowered their price objective on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, SunTrust Banks set a $170.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $191.11.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted $2.70 EPS. Simon Property Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities research analysts anticipate that Simon Property Group Inc will post 11.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a $1.85 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.55%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is presently 130.51%.
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Simon Property Group 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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