Pensionfund DSM Netherlands boosted its holdings in Simon Property Group Inc (NYSE:SPG) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,408 shares of the real estate investment trust’s stock after purchasing an additional 2,100 shares during the period. Simon Property Group comprises about 2.4% of Pensionfund DSM Netherlands’ portfolio, making the stock its largest holding. Pensionfund DSM Netherlands’ holdings in Simon Property Group were worth $13,166,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter worth about $490,827,000. FMR LLC boosted its stake in Simon Property Group by 19.8% in the 4th quarter. FMR LLC now owns 8,049,529 shares of the real estate investment trust’s stock worth $1,352,241,000 after purchasing an additional 1,331,005 shares during the period. APG Asset Management N.V. boosted its stake in Simon Property Group by 200.7% in the 4th quarter. APG Asset Management N.V. now owns 862,345 shares of the real estate investment trust’s stock worth $126,725,000 after purchasing an additional 575,600 shares during the period. Geode Capital Management LLC raised its holdings in shares of Simon Property Group by 12.1% during the 4th 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. Finally, Athena Capital Advisors LLC raised its holdings in shares of Simon Property Group by 173,950.8% during the 1st quarter. Athena Capital Advisors LLC now owns 410,760 shares of the real estate investment trust’s stock worth $63,401,000 after acquiring an additional 410,524 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.
NYSE:SPG traded up $3.12 during midday trading on Tuesday, hitting $158.25. 2,757,703 shares of the company traded hands, compared to its average volume of 1,424,151. The firm has a fifty day moving average price of $162.18. Simon Property Group Inc has a 12-month low of $155.04 and a 12-month high of $191.49. The stock has a market cap of $48.34 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 2.84 and a beta of 0.52. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01.
Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.02. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. On average, analysts anticipate that Simon Property Group Inc will post 12.38 earnings per share for the current fiscal year.
In related news, insider John Rulli sold 9,160 shares of Simon Property Group stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.17, for a total value of $1,613,717.20. Following the completion of the transaction, the insider now directly owns 29,646 shares in the company, valued at $5,222,735.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.75% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on SPG. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of in a report on Thursday, June 20th. Deutsche Bank set a $60.00 price target on Taubman Centers and gave the company a “hold” rating in a report on Tuesday, June 11th. Barclays set a €45.00 ($52.33) price target on Zalando and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Simon Property Group currently has an average rating of “Hold” and an average target price of $190.07.
Simon Property Group Company 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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