Stock Traders Buy High Volume of Call Options on Simon Property Group (NYSE:SPG)

Simon Property Group Inc (NYSE:SPG) was the target of unusually large options trading on Wednesday. Investors acquired 9,623 call options on the stock. This is an increase of 2,159% compared to the typical volume of 426 call options.

Shares of SPG traded down $1.47 during trading hours on Thursday, hitting $152.87. 36,007 shares of the stock were exchanged, compared to its average volume of 1,360,954. The company has a debt-to-equity ratio of 8.77, a quick ratio of 3.34 and a current ratio of 3.34. Simon Property Group has a 12-month low of $145.28 and a 12-month high of $191.49. The company has a market cap of $47.87 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.52. The stock’s 50-day moving average price is $152.30 and its two-hundred day moving average price is $159.07.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $1.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by ($1.28). Simon Property Group had a return on equity of 66.93% and a net margin of 40.23%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts expect that Simon Property Group will post 12.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, November 14th. Simon Property Group’s payout ratio is currently 69.25%.

A number of large investors have recently modified their holdings of the business. AllSquare Wealth Management LLC grew its holdings in Simon Property Group by 387.5% in the 3rd quarter. AllSquare Wealth Management LLC now owns 1,950 shares of the real estate investment trust’s stock valued at $304,000 after buying an additional 1,550 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in Simon Property Group by 35.2% in the 3rd quarter. First Allied Advisory Services Inc. now owns 2,665 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 694 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in Simon Property Group by 28.3% in the 3rd quarter. Cetera Advisor Networks LLC now owns 1,616 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 356 shares in the last quarter. Goelzer Investment Management Inc. grew its holdings in Simon Property Group by 39.2% in the 3rd quarter. Goelzer Investment Management Inc. now owns 80,055 shares of the real estate investment trust’s stock valued at $12,461,000 after buying an additional 22,551 shares in the last quarter. Finally, Everett Harris & Co. CA grew its holdings in Simon Property Group by 19.9% in the 3rd quarter. Everett Harris & Co. CA now owns 70,423 shares of the real estate investment trust’s stock valued at $10,961,000 after buying an additional 11,674 shares in the last quarter. Institutional investors own 95.71% of the company’s stock.

Several analysts recently commented on SPG shares. Morgan Stanley dropped their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. Barclays set a $218.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 11th. Raymond James reiterated an “outperform” rating on shares of Simon Property Group in a research report on Tuesday, November 5th. BTIG Research dropped their price target on Simon Property Group to $218.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, SunTrust Banks dropped their price target on Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $187.56.

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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