Westwood Holdings Group Inc. raised its stake in shares of Simon Property Group Inc (NYSE:SPG) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,315 shares of the real estate investment trust’s stock after purchasing an additional 76,085 shares during the quarter. Westwood Holdings Group Inc. owned about 0.09% of Simon Property Group worth $95,714,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Artisan Partners Limited Partnership acquired a new stake in shares of Simon Property Group in the third quarter worth $41,999,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Simon Property Group by 23.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,778 shares of the real estate investment trust’s stock worth $770,000 after buying an additional 898 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in Simon Property Group by 1.0% during the fourth quarter. Eagle Asset Management Inc. now owns 243,722 shares of the real estate investment trust’s stock worth $38,546,000 after buying an additional 2,446 shares in the last quarter. TCW Group Inc. lifted its holdings in Simon Property Group by 1.5% during the fourth quarter. TCW Group Inc. now owns 148,839 shares of the real estate investment trust’s stock valued at $25,561,000 after purchasing an additional 2,246 shares in the last quarter. Finally, Bogart Wealth LLC lifted its holdings in Simon Property Group by 26.5% during the fourth quarter. Bogart Wealth LLC now owns 9,582 shares of the real estate investment trust’s stock valued at $1,646,000 after purchasing an additional 2,005 shares in the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.
SPG has been the topic of several recent analyst reports. Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a report on Sunday, December 3rd. Boenning Scattergood reiterated a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a research report on Thursday, February 1st. Barclays reiterated a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Finally, ValuEngine cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Simon Property Group has a consensus rating of “Buy” and a consensus target price of $190.90.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.12. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. analysts predict that Simon Property Group Inc will post 12 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a $1.95 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $7.80 dividend on an annualized basis and a yield of 4.98%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is currently 124.80%.
In related news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,290 shares in the company, valued at $393,765.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.42% of the stock is owned by insiders.
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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