TD Asset Management Inc. Sells 727 Shares of Simon Property Group Inc. (SPG)
TD Asset Management Inc. reduced its stake in Simon Property Group Inc. (NYSE:SPG) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,469 shares of the real estate investment trust’s stock after selling 727 shares during the period. TD Asset Management Inc.’s holdings in Simon Property Group were worth $28,043,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Zacks Investment Management raised its stake in Simon Property Group by 0.3% in the second quarter. Zacks Investment Management now owns 1,534 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 5 shares in the last quarter. Private Trust Co. NA raised its position in shares of Simon Property Group by 0.5% in the second quarter. Private Trust Co. NA now owns 1,632 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 8 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Simon Property Group by 0.6% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,350 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 8 shares during the period. Alpha Windward LLC raised its position in shares of Simon Property Group by 1.5% in the third quarter. Alpha Windward LLC now owns 804 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 12 shares during the period. Finally, Whitnell & Co. raised its position in shares of Simon Property Group by 0.3% in the second quarter. Whitnell & Co. now owns 4,990 shares of the real estate investment trust’s stock worth $1,082,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.
Shares of Simon Property Group Inc. (NYSE:SPG) traded down 0.80% during mid-day trading on Wednesday, hitting $180.84. The company had a trading volume of 499,937 shares. Simon Property Group Inc. has a 12 month low of $174.91 and a 12 month high of $229.10. The company has a market cap of $56.83 billion, a PE ratio of 30.80 and a beta of 0.65. The firm has a 50-day moving average of $187.51 and a 200-day moving average of $205.04.
Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 EPS for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.02. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Simon Property Group had a return on equity of 36.22% and a net margin of 35.37%. Simon Property Group’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. On average, analysts expect that Simon Property Group Inc. will post $10.80 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a dividend of $1.65 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $6.60 dividend on an annualized basis and a yield of 3.62%. Simon Property Group’s payout ratio is 112.25%.
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A number of brokerages have recently issued reports on SPG. Argus set a $245.00 target price on Simon Property Group and gave the company a “buy” rating in a research report on Thursday, August 11th. Canaccord Genuity increased their target price on Simon Property Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, August 16th. Deutsche Bank AG increased their target price on Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Royal Bank Of Canada downgraded Simon Property Group from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $220.00 to $230.00 in a research note on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Simon Property Group currently has an average rating of “Buy” and an average price target of $236.24.
In other Simon Property Group news, SVP Steven K. Broadwater sold 945 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $215.41, for a total transaction of $203,562.45. Following the sale, the senior vice president now directly owns 2,965 shares in the company, valued at $638,690.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.
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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