BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $20.59 Million Stake in Simon Property Group Inc (SPG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Simon Property Group Inc (NYSE:SPG) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,848 shares of the real estate investment trust’s stock after acquiring an additional 1,800 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Simon Property Group were worth $20,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Capital World Investors increased its stake in Simon Property Group by 25.4% in the second quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock valued at $3,362,667,000 after purchasing an additional 4,210,000 shares during the last quarter. Eaton Vance Management increased its stake in Simon Property Group by 110.5% in the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after purchasing an additional 811,457 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Simon Property Group by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock valued at $1,067,204,000 after purchasing an additional 789,384 shares during the last quarter. Uniplan Investment Counsel Inc. increased its stake in Simon Property Group by 118.1% in the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock valued at $88,381,000 after purchasing an additional 714,159 shares during the last quarter. Finally, Brookfield Asset Management Inc. increased its stake in Simon Property Group by 28.4% in the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock valued at $505,406,000 after purchasing an additional 690,169 shares during the last quarter. 47.60% of the stock is owned by institutional investors.

Shares of Simon Property Group Inc (NYSE SPG) traded up $0.01 during midday trading on Thursday, hitting $162.76. The stock had a trading volume of 1,311,000 shares, compared to its average volume of 1,824,634. Simon Property Group Inc has a 52 week low of $150.15 and a 52 week high of $188.10. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $104,122.57, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned $2.70 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. sell-side analysts expect that Simon Property Group Inc will post 11.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were given a $1.85 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $7.40 annualized dividend and a dividend yield of 4.55%. Simon Property Group’s dividend payout ratio is presently 130.51%.

Several equities analysts recently commented on the company. Raymond James Financial set a $185.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Sunday. Argus dropped their target price on Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. Stifel Nicolaus restated a “hold” rating and set a $170.00 price target on shares of Simon Property Group in a research note on Thursday, October 12th. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Jefferies Group restated a “buy” rating and set a $200.00 price target (up from $198.00) on shares of Simon Property Group in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $191.11.

ILLEGAL ACTIVITY NOTICE: “BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $20.59 Million Stake in Simon Property Group Inc (SPG)” was originally published by Stock Observer and is the sole property of of Stock Observer. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.thestockobserver.com/2017/12/07/british-columbia-investment-management-corp-has-20-59-million-stake-in-simon-property-group-inc-spg.html.

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.

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

Receive News & Ratings for Simon Property Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply