Highbridge Capital Management LLC Increases Holdings in Simon Property Group Inc (SPG)
Highbridge Capital Management LLC boosted its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 25.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,161 shares of the real estate investment trust’s stock after acquiring an additional 12,500 shares during the period. Highbridge Capital Management LLC’s holdings in Simon Property Group were worth $10,009,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in Simon Property Group by 27.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 169 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Simon Property Group by 0.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 7 shares in the last quarter. Highstreet Asset Management Inc. purchased a new stake in shares of Simon Property Group during the second quarter worth about $157,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Simon Property Group by 791.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 4,843 shares in the last quarter. Finally, Boston Private Wealth LLC grew its holdings in shares of Simon Property Group by 5.3% during the second quarter. Boston Private Wealth LLC now owns 1,261 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 63 shares in the last quarter. Institutional investors own 47.60% of the company’s stock.
A number of equities research analysts have recently commented on SPG shares. BMO Capital Markets started coverage on shares of Simon Property Group in a report on Monday, September 11th. They set an “outperform” rating and a $175.00 price target for the company. Stifel Nicolaus set a $170.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a report on Sunday, August 27th. Argus lowered their price target on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Buy” and a consensus target price of $191.11.
Simon Property Group Inc (NYSE SPG) traded up $0.18 during trading on Monday, reaching $162.25. 1,423,700 shares of the company were exchanged, compared to its average volume of 1,820,044. Simon Property Group Inc has a 52-week low of $150.15 and a 52-week high of $188.10. The stock has a market capitalization of $103,802.69, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57.
Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. Simon Property Group’s revenue was up 3.4% compared to the same quarter last year. analysts anticipate that Simon Property Group Inc will post 11.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were issued a $1.85 dividend. This represents a $7.40 dividend on an annualized basis and a yield of 4.56%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Wednesday, November 15th. Simon Property Group’s payout ratio is presently 130.51%.
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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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