Aviva PLC boosted its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,895 shares of the real estate investment trust’s stock after purchasing an additional 8,350 shares during the period. Aviva PLC owned about 0.08% of Simon Property Group worth $13,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the business. Sigma Planning Corp raised its stake in shares of Simon Property Group by 31.4% during the 4th quarter. Sigma Planning Corp now owns 1,830 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 437 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Simon Property Group by 66.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 10,700 shares of the real estate investment trust’s stock worth $1,594,000 after buying an additional 4,272 shares during the last quarter. Bessemer Group Inc. grew its holdings in Simon Property Group by 18.3% during the fourth quarter. Bessemer Group Inc. now owns 705 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 109 shares during the period. Samalin Investment Counsel LLC purchased a new position in Simon Property Group during the fourth quarter valued at approximately $138,000. Finally, Boston Partners acquired a new position in Simon Property Group in the fourth quarter valued at approximately $81,000. 90.22% of the stock is currently owned by institutional investors.
Shares of SPG traded down $10.86 during trading hours on Thursday, hitting $72.15. 369,761 shares of the stock were exchanged, compared to its average volume of 6,298,119. The stock’s 50-day moving average price is $60.54 and its two-hundred day moving average price is $105.56. Simon Property Group Inc has a 12-month low of $42.25 and a 12-month high of $168.51. The company has a debt-to-equity ratio of 11.16, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.33.
Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 11th. The real estate investment trust reported $1.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.90 by ($1.47). The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Simon Property Group had a return on equity of 68.08% and a net margin of 35.20%. Simon Property Group’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 EPS. On average, research analysts expect that Simon Property Group Inc will post 10.77 earnings per share for the current year.
In related news, CEO David Simon bought 150,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was bought at an average cost of $60.83 per share, for a total transaction of $9,124,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel bought 1,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $50.50 per share, with a total value of $50,500.00. Following the completion of the purchase, the director now directly owns 8,317 shares in the company, valued at $420,008.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 351,072 shares of company stock valued at $19,796,093. 8.93% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on SPG. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $60.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday. Jefferies Financial Group lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $162.00 to $109.00 in a research report on Tuesday, March 10th. Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $60.00 price objective for the company in a research report on Monday, May 11th. Raymond James cut Simon Property Group from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Morgan Stanley cut their price target on Simon Property Group from $120.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Hold” and an average target price of $100.56.
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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