Capital Financial Planning LLC bought a new stake in shares of Simon Property Group Inc (NYSE:SPG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 280 shares of the real estate investment trust’s stock, valued at approximately $47,000.
A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. lifted its position in Simon Property Group by 2.5% during the fourth quarter. BlackRock Inc. now owns 31,228,680 shares of the real estate investment trust’s stock valued at $5,246,108,000 after purchasing an additional 763,535 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Simon Property Group by 33,036.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,272,633 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 11,238,614 shares during the last quarter. FMR LLC lifted its position in Simon Property Group by 3.8% during the third quarter. FMR LLC now owns 6,718,524 shares of the real estate investment trust’s stock valued at $1,187,499,000 after purchasing an additional 248,169 shares during the last quarter. Northern Trust Corp raised its stake in shares of Simon Property Group by 6.3% during the fourth quarter. Northern Trust Corp now owns 5,794,517 shares of the real estate investment trust’s stock worth $973,422,000 after acquiring an additional 344,212 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Simon Property Group by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock worth $790,441,000 after acquiring an additional 507,345 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Shares of NYSE SPG opened at $177.60 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 6.21. Simon Property Group Inc has a 52 week low of $145.78 and a 52 week high of $191.49. The firm has a market capitalization of $55.05 billion, a P/E ratio of 14.64, a PEG ratio of 3.02 and a beta of 0.58.
Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, February 1st. The real estate investment trust reported $3.23 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.01). Simon Property Group had a return on equity of 63.21% and a net margin of 43.11%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Simon Property Group Inc will post 12.41 earnings per share for the current fiscal year.
Simon Property Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 14th were paid a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 4.62%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Wednesday, February 13th. Simon Property Group’s payout ratio is presently 67.60%.
SPG has been the topic of several research reports. BMO Capital Markets reissued a “buy” rating and set a $191.00 price target on shares of Simon Property Group in a research note on Friday, February 1st. Mizuho downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price target on the stock. in a research note on Friday, February 15th. Deutsche Bank set a $191.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a research note on Friday, November 30th. Morgan Stanley set a $180.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a research note on Tuesday, November 27th. Finally, Wells Fargo & Co downgraded shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a research note on Friday, February 8th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $194.67.
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Simon Property Group Profile
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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