Green Square Capital LLC continued to hold its stake in shares of Simon Property Group Inc. (NYSE:SPG) during the second quarter, Holdings Channel reports. The institutional investor owned 1,312 shares of the real estate investment trust’s stock at the end of the second quarter. Green Square Capital LLC’s holdings in Simon Property Group were worth $285,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of SPG. Daiwa Securities Group Inc. boosted its stake in shares of Simon Property Group by 7.8% in the second quarter. Daiwa Securities Group Inc. now owns 8,296,851 shares of the real estate investment trust’s stock worth $1,799,587,000 after buying an additional 600,445 shares during the last quarter. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $114,083,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Simon Property Group during the first quarter worth about $107,177,000. Virginia Retirement System purchased a new stake in shares of Simon Property Group during the first quarter worth about $60,353,000. Finally, PGGM Investments boosted its stake in shares of Simon Property Group by 6.1% in the second quarter. PGGM Investments now owns 4,179,904 shares of the real estate investment trust’s stock worth $906,621,000 after buying an additional 241,398 shares during the last quarter. 98.56% of the stock is currently owned by institutional investors.
Shares of Simon Property Group Inc. (NYSE:SPG) remained flat at $213.49 during trading on Friday. 1,208,891 shares of the company were exchanged. Simon Property Group Inc. has a 52 week low of $176.11 and a 52 week high of $229.10. The company has a market capitalization of $67.09 billion, a PE ratio of 37.92 and a beta of 0.76. The company’s 50-day moving average is $213.90 and its 200-day moving average is $209.43.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $2.63 EPS for the quarter, topping the consensus estimate of $2.62 by $0.01. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Simon Property Group had a net margin of 34.03% and a return on equity of 34.61%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.41 earnings per share. On average, equities research analysts expect that Simon Property Group Inc. will post $10.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a $1.65 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, August 15th. This represents a $6.60 annualized dividend and a yield of 3.09%. Simon Property Group’s payout ratio is currently 117.23%.
SPG has been the topic of a number of research analyst reports. RBC Capital Markets cut shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $220.00 to $230.00 in a report on Tuesday, August 2nd. They noted that the move was a valuation call. BTIG Research initiated coverage on shares of Simon Property Group in a report on Thursday, August 25th. They issued a “buy” rating and a $266.00 target price on the stock. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 target price on the stock in a report on Tuesday, July 5th. Stifel Nicolaus upped their target price on shares of Simon Property Group from $232.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Vetr raised shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 target price on the stock in a report on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $236.00.
In other Simon Property Group news, CFO Andrew Juster sold 7,000 shares of Simon Property Group stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $215.68, for a total value of $1,509,760.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Steven K. Broadwater sold 945 shares of Simon Property Group stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the sale, the senior vice president now directly owns 2,965 shares in the company, valued at approximately $638,690.65. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.
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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