State of Tennessee Treasury Department increased its position in Simon Property Group Inc (NYSE:SPG) by 59.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 320,483 shares of the real estate investment trust’s stock after acquiring an additional 120,072 shares during the period. State of Tennessee Treasury Department owned about 0.10% of Simon Property Group worth $49,467,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in SPG. RFG Advisory Group LLC bought a new stake in Simon Property Group during the fourth quarter valued at about $200,000. Advisory Services Network LLC grew its holdings in Simon Property Group by 822.4% during the fourth quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 1,102 shares during the period. Greenleaf Trust bought a new stake in Simon Property Group during the first quarter valued at about $212,000. First Merchants Corp bought a new stake in Simon Property Group during the fourth quarter valued at about $213,000. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in Simon Property Group by 83.9% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,278 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 583 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.
NYSE SPG opened at $172.85 on Friday. The stock has a market capitalization of $54.29 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.24 and a beta of 0.58. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.89 and a quick ratio of 0.89. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $173.02.
Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.04. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 50.24% and a net margin of 37.36%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 earnings per share. equities research analysts predict that Simon Property Group Inc will post 12.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Thursday, May 17th were given a $1.94 dividend. The ex-dividend date of this dividend was Wednesday, May 16th. This represents a $7.76 dividend on an annualized basis and a dividend yield of 4.49%. Simon Property Group’s dividend payout ratio is currently 69.58%.
Several research firms have issued reports on SPG. ValuEngine raised Simon Property Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Wells Fargo & Co reissued an “outperform” rating and set a $175.00 price target (down previously from $185.00) on shares of Simon Property Group in a report on Tuesday, May 1st. Boenning Scattergood reissued a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a report on Monday, April 30th. JPMorgan Chase & Co. lowered Simon Property Group from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 27th. Finally, Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $186.58.
About Simon Property Group
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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