Commonwealth Bank of Australia Has $61.51 Million Holdings in Simon Property Group, Inc. (SPG)
Commonwealth Bank of Australia lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 22.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 380,276 shares of the real estate investment trust’s stock after selling 107,852 shares during the quarter. Commonwealth Bank of Australia owned 0.12% of Simon Property Group worth $61,512,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Norway Savings Bank raised its position in shares of Simon Property Group by 19.5% during the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Simon Property Group by 27.3% in 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 purchasing an additional 169 shares during the last quarter. Israel Discount Bank of New York bought a new stake in Simon Property Group in the first quarter worth $146,000. Alpha Windward LLC increased its position in Simon Property Group by 12.2% in the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 93 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in Simon Property Group by 5.3% in the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock worth $155,000 after purchasing an additional 46 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on SPG. Argus reduced their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, June 29th. Morgan Stanley reissued an “equal weight” rating and set a $158.00 target price (down from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus set a $170.00 price objective on shares of Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, August 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $195.01.
Shares of Simon Property Group, Inc. (NYSE:SPG) traded up 0.28% during trading on Thursday, hitting $159.17. The stock had a trading volume of 221,176 shares. The stock has a 50-day moving average of $159.61 and a 200 day moving average of $164.01. The firm has a market cap of $49.48 billion, a price-to-earnings ratio of 28.37 and a beta of 0.58. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $218.58.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. On average, analysts predict that Simon Property Group, Inc. will post $6.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were given a dividend of $1.80 per share. The ex-dividend date was Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a dividend yield of 4.54%. Simon Property Group’s dividend payout ratio (DPR) is 127.89%.
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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