Ngam Advisors L.P. Has $28,939,000 Stake in Simon Property Group Inc. (SPG)
Ngam Advisors L.P. increased its stake in Simon Property Group Inc. (NYSE:SPG) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,794 shares of the real estate investment trust’s stock after buying an additional 3,274 shares during the period. Ngam Advisors L.P.’s holdings in Simon Property Group were worth $28,939,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC raised its position in Simon Property Group by 8.4% in the second quarter. Gradient Investments LLC now owns 20,985 shares of the real estate investment trust’s stock valued at $4,552,000 after buying an additional 1,626 shares during the last quarter. Capstone Asset Management Co. raised its position in Simon Property Group by 0.8% in the second quarter. Capstone Asset Management Co. now owns 27,851 shares of the real estate investment trust’s stock valued at $6,041,000 after buying an additional 216 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in Simon Property Group by 14.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 592,857 shares of the real estate investment trust’s stock valued at $128,591,000 after buying an additional 76,812 shares during the last quarter. First Financial Corp IN raised its position in Simon Property Group by 32.9% in the second quarter. First Financial Corp IN now owns 6,477 shares of the real estate investment trust’s stock valued at $1,404,000 after buying an additional 1,603 shares during the last quarter. Finally, Creative Planning raised its position in Simon Property Group by 110.5% in the second quarter. Creative Planning now owns 10,459 shares of the real estate investment trust’s stock valued at $2,269,000 after buying an additional 5,490 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.
Simon Property Group Inc. (NYSE:SPG) traded up 0.68% on Tuesday, hitting $182.57. The company had a trading volume of 354,288 shares. The stock has a 50 day moving average of $187.51 and a 200-day moving average of $205.04. Simon Property Group Inc. has a one year low of $174.91 and a one year high of $229.10. The stock has a market capitalization of $57.37 billion, a PE ratio of 31.10 and a beta of 0.65.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.02. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Simon Property Group had a return on equity of 36.22% and a net margin of 35.37%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 earnings per share. Equities analysts anticipate that Simon Property Group Inc. will post $10.80 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a $1.65 dividend. The ex-dividend date is Monday, November 14th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.64%. Simon Property Group’s dividend payout ratio is presently 112.25%.
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SPG has been the topic of several recent analyst reports. RBC Capital Markets cut Simon Property Group from an “outperform” rating to a “sector perform” rating and lifted their price objective 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. Zacks Investment Research cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Royal Bank Of Canada cut their price objective on Simon Property Group from $230.00 to $216.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 1st. Jefferies Group reiterated a “buy” rating and set a $255.00 price objective on shares of Simon Property Group in a report on Sunday, October 23rd. Finally, Deutsche Bank AG lifted their price objective on Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $236.24.
In other news, SVP Steven K. Broadwater sold 945 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $215.41, for a total value of $203,562.45. Following the transaction, the senior vice president now owns 2,965 shares in the company, valued at $638,690.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.
About Simon Property Group
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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