BTC Capital Management Inc. Sells 763 Shares of Simon Property Group, Inc. (SPG)
BTC Capital Management Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,377 shares of the real estate investment trust’s stock after selling 763 shares during the quarter. BTC Capital Management Inc.’s holdings in Simon Property Group were worth $5,222,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Norway Savings Bank boosted its stake 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 purchasing an additional 125 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of 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 acquiring an additional 169 shares during the period. Alpha Windward LLC lifted its stake in shares of 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 acquiring an additional 93 shares during the period. Highstreet Asset Management Inc. acquired a new position in shares of Simon Property Group in the second quarter worth approximately $157,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Simon Property Group by 0.7% in 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 acquiring an additional 7 shares during the period. 95.24% of the stock is currently owned by hedge funds and other institutional investors.
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SPG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a research note on Wednesday, October 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research note on Monday, July 17th. Argus cut their price objective on Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Simon Property Group currently has a consensus rating of “Buy” and an average target price of $191.45.
Simon Property Group, Inc. (SPG) traded up $2.49 during midday trading on Monday, hitting $163.75. The stock had a trading volume of 2,832,300 shares, compared to its average volume of 1,821,617. The company has a market capitalization of $51,640.00, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $189.25. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93.
Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.70 earnings per share. equities analysts expect that Simon Property Group, Inc. will post 11.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $7.40 annualized dividend and a dividend yield of 4.52%. Simon Property Group’s payout ratio is currently 127.21%.
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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