Honeywell International Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 67.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 70,100 shares of the real estate investment trust’s stock after selling 142,590 shares during the period. Honeywell International Inc.’s holdings in Simon Property Group were worth $11,339,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Simon Property Group by 1,886.1% in the first quarter. BlackRock Inc. now owns 29,769,454 shares of the real estate investment trust’s stock valued at $5,121,238,000 after buying an additional 28,270,599 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Simon Property Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 45,481,675 shares of the real estate investment trust’s stock valued at $7,824,213,000 after buying an additional 923,592 shares during the period. PGGM Investments raised its position in shares of Simon Property Group by 31.8% in the first quarter. PGGM Investments now owns 3,473,850 shares of the real estate investment trust’s stock valued at $597,606,000 after buying an additional 839,043 shares during the period. APG Asset Management US Inc. raised its position in shares of Simon Property Group by 7.4% in the second quarter. APG Asset Management US Inc. now owns 7,258,540 shares of the real estate investment trust’s stock valued at $1,174,141,000 after buying an additional 498,800 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Simon Property Group by 73.2% in the first quarter. Renaissance Technologies LLC now owns 1,074,905 shares of the real estate investment trust’s stock valued at $184,916,000 after buying an additional 454,400 shares during the period. 95.77% of the stock is currently owned by institutional investors.
Simon Property Group, Inc. (NYSE SPG) traded down 2.30% during trading on Friday, hitting $153.58. The company had a trading volume of 2,131,492 shares. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 27.37 and a beta of 0.58. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $219.41. The firm’s 50 day moving average is $160.22 and its 200-day moving average is $166.37.
Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. Simon Property Group’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $2.63 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a dividend of $1.80 per share. 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. This represents a $7.20 annualized dividend and a yield of 4.69%. Simon Property Group’s dividend payout ratio (DPR) is presently 127.89%.
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Several research analysts have issued reports on the company. BidaskClub lowered Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays PLC boosted their price target on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating on shares of Simon Property Group in a report on Tuesday, July 25th. Finally, Stifel Nicolaus started coverage on Simon Property Group in a report on Friday, July 14th. They issued a “hold” rating and a $170.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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