Loeb Partners Corp Has $2.04 Million Position in Simon Property Group, Inc. (SPG)

Loeb Partners Corp increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 40.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,600 shares of the real estate investment trust’s stock after buying an additional 3,600 shares during the period. Loeb Partners Corp’s holdings in Simon Property Group were worth $2,038,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. increased its position in shares of Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares during the last quarter. Kissinger Financial Services LLC increased its stake in Simon Property Group by 3.6% in the first quarter. Kissinger Financial Services LLC now owns 21,753 shares of the real estate investment trust’s stock worth $3,741,000 after buying an additional 753 shares in the last quarter. Norway Savings Bank increased its stake in Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 275 shares in the last quarter. Atria Investments LLC increased its stake in Simon Property Group by 51.0% in the first quarter. Atria Investments LLC now owns 2,193 shares of the real estate investment trust’s stock worth $377,000 after buying an additional 741 shares in the last quarter. Finally, Alpha Windward LLC increased its stake in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares in the last quarter. 95.77% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group, Inc. (NYSE:SPG) opened at 153.58 on Friday. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $219.41. The firm’s 50-day moving average is $160.22 and its 200 day moving average is $166.37. The company has a market cap of $47.74 billion, a PE ratio of 27.37 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the company posted $2.63 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts predict that Simon Property Group, Inc. will post $6.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 4.69%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, August 15th. Simon Property Group’s payout ratio is presently 127.89%.

WARNING: This article was first posted by BNB Daily and is the property of of BNB Daily. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/19/loeb-partners-corp-raises-position-in-simon-property-group-inc-spg-updated-updated.html.

A number of analysts have recently weighed in on the stock. Vetr downgraded shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 target price on the stock. in a research report on Tuesday, May 2nd. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Barclays PLC upped their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Argus reduced their target price on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, June 29th. Finally, BidaskClub raised shares of Simon Property Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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.

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