Simon Property Group Inc (SPG) Shares Sold by Alyeska Investment Group L.P.
Alyeska Investment Group L.P. lessened its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 19.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,576 shares of the real estate investment trust’s stock after selling 2,880 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Simon Property Group were worth $1,864,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SPG. Global X Management Co. LLC raised its holdings in shares of Simon Property Group by 11.0% during the 2nd quarter. Global X Management Co. LLC now owns 3,397 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 336 shares in the last quarter. IFC Holdings Incorporated FL purchased a new position in shares of Simon Property Group during the 2nd quarter valued at about $211,000. Pitcairn Co. raised its holdings in shares of Simon Property Group by 7.5% during the 2nd quarter. Pitcairn Co. now owns 1,299 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 91 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Simon Property Group during the 2nd quarter valued at about $340,000. Finally, SG Americas Securities LLC raised its holdings in shares of Simon Property Group by 32.8% during the 2nd quarter. SG Americas Securities LLC now owns 58,598 shares of the real estate investment trust’s stock valued at $9,479,000 after buying an additional 14,470 shares in the last quarter. 47.60% of the stock is currently owned by institutional investors.
Simon Property Group Inc (SPG) traded down $0.52 on Thursday, hitting $165.83. The stock had a trading volume of 1,878,200 shares, compared to its average volume of 1,827,047. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. 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 $106,425.75, a PE ratio of 15.11, a PEG ratio of 2.25 and a beta of 0.62.
Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. analysts forecast that Simon Property Group Inc will post 11.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a dividend of $1.85 per share. The ex-dividend date was Wednesday, November 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 annualized dividend and a dividend yield of 4.46%. Simon Property Group’s payout ratio is 130.51%.
A number of equities analysts recently weighed in on SPG shares. BMO Capital Markets started coverage on Simon Property Group in a report on Monday, September 11th. They set an “outperform” rating and a $175.00 price objective on the stock. Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, August 27th. Argus decreased their price target on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $191.11.
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Simon Property Group 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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