Lake Street Advisors Group LLC acquired a new position in Simon Property Group Inc (NYSE:SPG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,695 shares of the real estate investment trust’s stock, valued at approximately $291,000.
A number of other large investors have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Simon Property Group by 17.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the real estate investment trust’s stock worth $2,950,000 after purchasing an additional 2,721 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Simon Property Group by 10.2% during the third quarter. New York State Common Retirement Fund now owns 898,400 shares of the real estate investment trust’s stock worth $144,651,000 after purchasing an additional 83,400 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Simon Property Group by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 1,225,274 shares of the real estate investment trust’s stock worth $196,830,000 after purchasing an additional 28,023 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Simon Property Group during the third quarter worth $403,000. Finally, Wasatch Advisors Inc. acquired a new position in shares of Simon Property Group during the third quarter worth $448,000. 94.77% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays reduced their price target on Simon Property Group from $190.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Boenning Scattergood reaffirmed a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a research report on Thursday, February 1st. Finally, Raymond James Financial set a $185.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $190.54.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.12. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. analysts predict that Simon Property Group Inc will post 12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a dividend of $1.95 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.11%. Simon Property Group’s payout ratio is 124.80%.
In other news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. Following the sale, the chief accounting officer now directly owns 2,290 shares of the company’s stock, valued at $393,765.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.42% of the stock is owned by insiders.
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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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