Investors sold shares of Simon Property Group Inc (NYSE:SPG) on strength during trading hours on Monday. $50.38 million flowed into the stock on the tick-up and $80.86 million flowed out of the stock on the tick-down, for a money net flow of $30.48 million out of the stock. Of all stocks tracked, Simon Property Group had the 32nd highest net out-flow for the day. Simon Property Group traded up $0.17 for the day and closed at $156.74
Several analysts have recently weighed in on SPG shares. Barclays reiterated a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research note on Wednesday, January 31st. Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, December 3rd. Boenning Scattergood reiterated a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a research note on Thursday, February 1st. Finally, ValuEngine lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. 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. Simon Property Group presently has an average rating of “Buy” and an average target price of $191.01.
The stock has a market capitalization of $50,155.01, a P/E ratio of 25.08, a P/E/G ratio of 2.00 and a beta of 0.58. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 5.87.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $1.95 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date was Tuesday, February 13th. This represents a $7.80 annualized dividend and a dividend yield of 4.98%. 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 shares were sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the sale, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $393,765.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.42% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership bought a new stake in shares of Simon Property Group in the 3rd quarter worth $41,999,000. Milestone Group Inc. grew its stake in shares of Simon Property Group by 75.1% in the 3rd quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock worth $375,000 after acquiring an additional 1,000 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Simon Property Group by 23.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,778 shares of the real estate investment trust’s stock worth $770,000 after acquiring an additional 898 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of Simon Property Group by 26.5% in the 4th quarter. Bogart Wealth LLC now owns 9,582 shares of the real estate investment trust’s stock worth $1,646,000 after acquiring an additional 2,005 shares in the last quarter. Finally, Cullinan Associates Inc. grew its stake in shares of Simon Property Group by 5.1% in the 4th quarter. Cullinan Associates Inc. now owns 28,115 shares of the real estate investment trust’s stock worth $4,828,000 after acquiring an additional 1,375 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.
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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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