IBM Retirement Fund increased its position in Simon Property Group, Inc. (NYSE:SPG) by 120.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,591 shares of the real estate investment trust’s stock after buying an additional 4,155 shares during the period. IBM Retirement Fund’s holdings in Simon Property Group were worth $1,373,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. increased its stake in Simon Property Group by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 13,800 shares of the real estate investment trust’s stock worth $2,232,000 after buying an additional 582 shares in the last quarter. RMR Advisors LLC increased its stake in Simon Property Group by 2.3% in the second quarter. RMR Advisors LLC now owns 44,427 shares of the real estate investment trust’s stock worth $7,187,000 after buying an additional 1,000 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new position in shares of Simon Property Group during the second quarter worth about $499,000. LGT Capital Partners LTD. boosted its position in shares of Simon Property Group by 22.9% in the second quarter. LGT Capital Partners LTD. now owns 5,040 shares of the real estate investment trust’s stock worth $815,000 after buying an additional 940 shares during the last quarter. Finally, Moloney Securities Asset Management LLC boosted its position in shares of Simon Property Group by 10.0% in the second quarter. Moloney Securities Asset Management LLC now owns 3,997 shares of the real estate investment trust’s stock worth $647,000 after buying an additional 365 shares during the last quarter. 95.77% of the stock is currently owned by hedge funds and other institutional investors.
Simon Property Group, Inc. (NYSE SPG) traded down 2.30% on Friday, reaching $153.58. 2,131,492 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $160.22 and a 200 day moving average of $166.37. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $219.41. The stock has a market capitalization of $47.74 billion, a PE ratio of 27.37 and a beta of 0.58.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts predict that Simon Property Group, Inc. will post $6.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a dividend of $1.80 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Tuesday, August 15th. Simon Property Group’s dividend payout ratio is 127.89%.
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SPG has been the subject of a number of research reports. Deutsche Bank AG lifted their target price on shares of Simon Property Group from $188.00 to $191.00 and gave the stock a “hold” rating in a research report on Monday, May 22nd. Zacks Investment Research raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Barclays PLC reissued an “overweight” rating and issued a $191.00 price objective (down previously from $200.00) on shares of Simon Property Group in a research report on Monday, May 15th. Vetr raised shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective for the company in a research report on Wednesday, April 26th. Finally, ValuEngine lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $195.01.
Simon Property Group Company Profile
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.
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