Global Endowment Management LP Cuts Position in Simon Property Group Inc (SPG)

Global Endowment Management LP reduced its stake in shares of Simon Property Group Inc (NYSE:SPG) by 43.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the real estate investment trust’s stock after selling 8,000 shares during the period. Global Endowment Management LP’s holdings in Simon Property Group were worth $1,804,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SPG. Dynamic Technology Lab Private Ltd acquired a new position in shares of Simon Property Group during the 2nd quarter worth approximately $219,000. Robeco Institutional Asset Management B.V. raised its holdings in Simon Property Group by 3.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 131,320 shares of the real estate investment trust’s stock valued at $21,144,000 after acquiring an additional 4,000 shares during the last quarter. APG Asset Management N.V. raised its holdings in Simon Property Group by 13.5% in the 3rd quarter. APG Asset Management N.V. now owns 81,745 shares of the real estate investment trust’s stock valued at $13,162,000 after acquiring an additional 9,700 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Simon Property Group by 11.0% in the 3rd quarter. Raymond James Trust N.A. now owns 6,299 shares of the real estate investment trust’s stock valued at $1,014,000 after acquiring an additional 625 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Simon Property Group by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 244,599 shares of the real estate investment trust’s stock valued at $39,383,000 after acquiring an additional 26,992 shares during the last quarter. Hedge funds and other institutional investors own 46.99% of the company’s stock.

Shares of Simon Property Group Inc (SPG) opened at $154.03 on Friday. The company has a market capitalization of $96,797.20, a price-to-earnings ratio of 13.48, a PEG ratio of 1.92 and a beta of 0.55. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 5.87. Simon Property Group Inc has a twelve month low of $150.15 and a twelve month high of $187.35.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting analysts’ consensus estimates of $3.12. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. research analysts predict that Simon Property Group Inc will post 12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.06%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date is Tuesday, February 13th. Simon Property Group’s dividend payout ratio is presently 124.80%.

In other news, CAO Steven K. Broadwater sold 621 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. Following the completion of the sale, the chief accounting officer now directly owns 2,290 shares in the company, valued at approximately $393,765.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.42% of the company’s stock.

Several research analysts have weighed in on SPG shares. BMO Capital Markets set a $175.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Friday, October 27th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Monday, October 30th. Mizuho set a $183.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Sunday, October 29th. SunTrust Banks set a $170.00 price target on Simon Property Group and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, Zacks Investment Research downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $191.11.

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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.

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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