Virginia Retirement Systems ET AL increased its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 430,677 shares of the real estate investment trust’s stock after acquiring an additional 6,700 shares during the period. Simon Property Group comprises about 0.9% of Virginia Retirement Systems ET AL’s investment portfolio, making the stock its 15th biggest position. Virginia Retirement Systems ET AL owned 0.13% of Simon Property Group worth $76,122,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Kaizen Advisory LLC boosted its position in shares of Simon Property Group by 138.1% during the 2nd quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 413 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in Simon Property Group during the 3rd quarter valued at about $156,000. Peapack Gladstone Financial Corp bought a new position in Simon Property Group during the 2nd quarter valued at about $203,000. Cumberland Partners Ltd bought a new position in Simon Property Group during the 2nd quarter valued at about $204,000. Finally, Murphy Capital Management Inc. bought a new position in Simon Property Group during the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 92.69% of the company’s stock.
In other Simon Property Group news, insider John Rulli sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total value of $1,119,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.64% of the company’s stock.
SPG has been the subject of several analyst reports. Jefferies Financial Group reissued a “$170.72” rating and set a $194.00 price target on shares of Simon Property Group in a report on Wednesday, July 18th. Citigroup lifted their price target on shares of Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. BMO Capital Markets reissued a “buy” rating and set a $175.00 price target on shares of Simon Property Group in a report on Monday, July 30th. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Thursday, October 4th. Finally, Bank of America lifted their price target on shares of Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a report on Monday, September 10th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Buy” and an average price target of $195.42.
Shares of NYSE SPG opened at $182.66 on Tuesday. Simon Property Group Inc has a 1-year low of $145.78 and a 1-year high of $188.21. The stock has a market capitalization of $57.79 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 2.45 and a beta of 0.40. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 6.14.
Simon Property Group (NYSE:SPG) last announced its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.07. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. On average, equities research analysts anticipate that Simon Property Group Inc will post 12.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, November 15th. Simon Property Group’s dividend payout ratio is presently 71.36%.
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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