YHB Investment Advisors Inc. Buys 1,245 Shares of Simon Property Group, Inc. (SPG)

YHB Investment Advisors Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,573 shares of the real estate investment trust’s stock after buying an additional 1,245 shares during the period. YHB Investment Advisors Inc.’s holdings in Simon Property Group were worth $1,710,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SPG. Chevy Chase Trust Holdings Inc. increased its position in Simon Property Group by 5.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 276,424 shares of the real estate investment trust’s stock valued at $47,553,000 after buying an additional 13,133 shares during the period. West Oak Capital LLC increased its position in Simon Property Group by 15.6% in the first quarter. West Oak Capital LLC now owns 1,405 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 190 shares during the period. Gulf International Bank UK Ltd increased its position in Simon Property Group by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 97,997 shares of the real estate investment trust’s stock valued at $16,858,000 after buying an additional 1,720 shares during the period. National Pension Service increased its position in shares of Simon Property Group by 8.3% in the first quarter. National Pension Service now owns 234,449 shares of the real estate investment trust’s stock valued at $39,866,000 after buying an additional 17,880 shares during the period. Finally, Gradient Investments LLC increased its position in shares of Simon Property Group by 21.1% in the first quarter. Gradient Investments LLC now owns 31,876 shares of the real estate investment trust’s stock valued at $5,484,000 after buying an additional 5,560 shares during the period. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Shares of Simon Property Group, Inc. (NYSE SPG) traded down 2.02% on Friday, hitting $157.89. The stock had a trading volume of 1,839,334 shares. The stock has a market cap of $49.08 billion, a P/E ratio of 28.14 and a beta of 0.58. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $219.41. The firm has a 50 day moving average of $160.84 and a 200 day moving average of $167.22.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company posted $2.63 earnings per share. Simon Property Group’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Tuesday, August 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is currently 124.33%.

WARNING: “YHB Investment Advisors Inc. Buys 1,245 Shares of Simon Property Group, Inc. (SPG)” was first reported by BNB Daily and is the property of of BNB Daily. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.baseball-news-blog.com/2017/08/13/yhb-investment-advisors-inc-has-1-71-million-stake-in-simon-property-group-inc-spg-updated.html.

SPG has been the topic of several research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Simon Property Group in a report on Monday, April 17th. Barclays PLC cut their price target on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Vetr upgraded shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price target on the stock in a report on Wednesday, April 26th. Royal Bank Of Canada reiterated a “hold” rating and issued a $182.00 price target on shares of Simon Property Group in a report on Thursday, May 18th. Finally, Deutsche Bank AG increased their price target on shares of Simon Property Group from $188.00 to $191.00 and gave the stock a “hold” rating in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $195.01.

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply